444 By Susan Ariel Aaronson and David Deese With a reaction by ...

Energy and Security: Ensuring An Adequate and Sustainable Supply of Energy toMeet Societal NeedsAlthough energy security is a global and national public good, in generalcorporations and not governments provide the world’s people with the energy they need.While some such corporations are arms of the state, as noted above, the big five are not.The big five therefore must meet state directives while juggling stakeholder andshareholder directives. Most states are determined to achieve energy security-- a majorforeign policy challenge for all governments.152 Energy security can be defined ashaving an adequate and sustainable supply of energy to meet the needs of citizens,commercial interests and public sector functions. But energy security in any one countryis a function of global energy security.The link between energy and security is a complex calculation of the“vulnerability” of any specific individual, country, or set of countries to serious social,economic, political, or military disruption stemming from change in one or moredimensions of energy—including its price, availability, or geopolitical effects. A countrymight be only moderately dependent on any one exporter, but low levels of availablestockpiles or storage of that fuel and rigidity in the market might make that country quitevulnerable. Since oil and natural gas markets are generally international or at leastregional in nature, national and international vulnerabilities often can only be reduced bysets of governments and firms working in collaboration. Given the constant barrage ofevents that can influence market conditions, corporate and government leaders share acollective interest in effectively monitoring and managing supply.449