Comparative Analysis Of Energy Policies On Security Of Supply In The United States,China And The European Union

The United States,China and the European Union are the largest energy importers in the world,therefore security of supply poses a key concern in their energy policy agendas.However,the views on energy policies on security of supply differ between all three researched profiles.The aim of the paper is to compare energy policies on security of supply in the U.S.,China and the EU and analyze their effectiveness in the context of geopolitical and market developments in the short-term and in the long-term perspective.The research is focused on oil and natural gas as these primary resources make up the vast majority of energy imports.Energy policies on security of supply are determined by a combination of components that affect energy supply security internally and externally,and approaches that are shaped by a state's behavior in its attempts to secure energy supply.In other words,addressing the issue with securing energy supply largely depends on the conditions in a state's energy sector as well as a state's perception of the international system and its place within.To reach the research goal,firstly external and internal components impacting energy policies on security of supply in three profiles are analyzed.Secondly,developed from liberal and realist thought,market-oriented and strategic approaches are examined to give the conceptual framework to explain the policy choices of states that are under research.Lastly,the effectiveness of energy policies on security of supply in three profiles in the short-term and in the long-term perspective is examined and compared.The analysis is conducted on the basis of the official discourse and existing legislation in the U.S.,China and the EU.Research findings show what implications the developments of energy market,geopolitics and domestic energy sector have for energy policies on security of supply in the short and in the long term.In the low oil price environment and under the current geopolitical conditions,the energy supply in the EU is less secure than in the U.S.and China.The EU experiences a range of internal and external difficulties and market-oriented approach adopted by the Union can hardly be applied to the EU's external energy partners,limiting its ability in securing its oil and natural gas supply.However,in the long term,if planned and adopted energy policies on security of supply fully come into effect,the European Union is most likely to become one of the most influential and secured actors in global energy market.As for China,the combination of market-oriented and strategic approach work best under the current geopolitical and market conditions,however,their effectiveness in the long term largely depends on China's ability to adjust to shifting energy patterns as well as changing geopolitical order.The dominance of strategic approach in the U.S.enabled the country to significantly reduce its oil imports and become an exporter of natural gas.However,oil supply security issues in the U.S.lack long-term vision,as current energy market conditions are pushing oil imports to grow again and relations with Middle Eastern suppliers remain very complex and unstable.Therefore,the future of energy policies on security of supply as well as their outcomes in the U.S.largely depends on the development of long-term solutions needed for its domestic and foreign energy policy in order to have continuous and secured flow of energy.