Energy Security

Authored by: Roland Dannreuther

The Routledge Handbook of New Security Studies

Print publication date:  January  2010
Online publication date:  January  2010

Print ISBN: 9780415484374
eBook ISBN: 9780203859483
Adobe ISBN: 9781135166205

10.4324/9780203859483.ch15

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Abstract

With the turn of the millennium, energy security has risen inexorably up the security agenda. In the late 1990s, two decades of cheap energy prices and abundant supply had erased the memories of the oil crises of the 1970s and fostered a belief that the age of ‘cheap oil’ would extend indefinitely into the future (Jaffe and Manning 2000). But instead of the $5 per barrel which some predicted, crude oil prices rose fivefold from 2000 to 2008, reaching well over $100 per barrel. Oil was now more expensive than it had ever been, greater even than the period of the Iranian Revolution and the second oil crisis in 1979–80.

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