EU Institute for Security Studies, Paris 15 October 2004, Remarks by John Gault
Article from: OGEL 5 (2004), in Economic and Commercial Context for Oil, Gas and Energy Law
Introduction
Recent months have presented us with numerous warning signs that our energy security must not be taken for granted. Like volcanologists interpreting the subterranean rumblings of Mt. St.-Helens, we must pay close attention to observable symptoms of impending danger. There are many. Let's start with today's oil market. I do not wish to suggest that Brent crude oil at $50 / barrel is in itself a threat to European energy security, but rather that we can learn important security lessons from the circumstances which brought the market to this price level. Although ...