Risk theory applied to energy security: a typology of energy risks
It was said in Chapter 2 that the pro vi sion of global pub lic goods is harder to apply to prac tical pol icy meas ures than the pre ven tion or fight against global pub lic prob lems and crises. According to this rationale, it would be more effective to foster energy secur ity by trying to reduce energy in secur ity, empirically estimating the level of in secur ity through the concept of energy risk. In this chapter risk theory is applied to energy secur ity and a causal typology of energy risks is de veloped. Once pri mary and secondary energy risks are defined with precision, the concept of energy risk will eventually be used in Chapters 8 and 9 to estim ate geopolit ical energy risks – i.e. the risks associated with the geopolitical con text (see Figure 5.1, right column of the shaded area) – as a pos sible way of transcending the prob lems inherent to scen ario building (see Chapters 5 and 6).