Abstract

Although energy policy is generally stated to be a reflection of economic, security and environmental priorities there has been a tendency over the last few decades for the economic and security aspects to take priority. The observation by Daniel Yergin that "Oil has meant mastery throughout the twentieth century" has manifested in an emphasis on energy security as a policy of immense importance to both developed as well as developing economies with the emphasis on securing affordable and continuous supplies of energy. However, there is a growing body of evidence to suggest that the fossil ...