Title: Factoring energy security into Australian foreign and trade policy: Has luck run out?

Authors: Richard Leaver

Addresses: Political and International Studies, Flinders University, Sturt Road, Bedford Park, Adelaide, 5001 SA, Australia

Abstract: When energy prices rose dramatically in the 1970s, the impact on Australia was cushioned by two developments: the timely discovery of domestic oil in Bass Strait; and of the Japanese conversion to thermal coal. With falling oil imports and expanding coal exports, Australia emerged as a net energy exporter. But both these forms of good luck are now running out – and at a time when free market views about energy security hold the policy court. Since, however, market failure is characteristic of the new age of expensive energy, the scope for considered Australian choices has narrowed considerably.

Keywords: energy security; Australian trade policy; Australia; foreign policy; luck; oil prices; Japan; coal trade; energy superpower; free market.

DOI: 10.1504/IJGEI.2008.019075

International Journal of Global Energy Issues, 2008 Vol.29 No.4, pp.388 - 399

Published online: 28 Jun 2008 *

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