The paradox of energy security

Efforts to secure the flow of energy often do the opposite, reinforcing injustice and historical resentments, argues a new book

Northern Iraq is at war. Renewed sanctions on Iran may be imminent. Opec is cutting supply. Venezuela is collapsing. Relations between Russia and the West are deteriorating. Terror groups are targeting energy assets in countries like Libya and oil-producing South Sudan is a failed state. China is flexing its muscles in the South China Sea. More prosaically, international oil companies have carried out a huge upstream investment retreat since 2014. Such ingredients—especially in combination—would once have spiked oil prices and prompted urgent global summits. These days, oil markets remain sanguine and energy security has lost its paranoia factor. The rise of American oil and gas and public n