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Oil Stockpiling and Emergency Response Cooperation of East Asia

Editor

Listed:
  • Yoshikazu Kobayashi
  • Venkatachalam Anbumozhi

Author

Listed:
  • Yoshikazu Kobayashi
  • Venkatachalam Anbumozhi

Abstract

Asia's energy security is usually defined in terms of oil-supply security, given the region's growing demand for oil, its flattening oil production, and its overdependence on regions such as the Middle East. Oil-supply security can be attained through long-term and short-term policy measures. Long-term measures include diversification of oil import sources, investment in alternative energy sources and technologies, and cooperation between oil producers and consumers. Short-term measures include information sharing, standby oil production, and drawdowns of emergency oil stockpiles. This study analyses the merits and demerits of oil stockpiling, which is regarded as an insurance against damage caused by any disruptions in oil supply. It also proposes a regional cooperation mechanism for oil stockpiling among ASEAN member states, Japan, and the Republic of Korea by ticketing and bilateral oil stockpiling mechanism based on market principles.

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Suggested Citation

  • Yoshikazu Kobayashi & Venkatachalam Anbumozhi, . "Oil Stockpiling and Emergency Response Cooperation of East Asia," Books, Economic Research Institute for ASEAN and East Asia (ERIA), number 2014-rpr-32 edited by Yoshikazu Kobayashi & Venkatachalam Anbumozhi, November.
    • Handle: RePEc:era:eriabk:2014-rpr-32
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    References listed on IDEAS

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    1. Kudo, Toshihiro, 2005. "Stunted and Distorted Industrialization in Myanmar," IDE Discussion Papers 38, Institute of Developing Economies, Japan External Trade Organization(JETRO).
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