Deutschlands Energieversorgungsrisiko vor Russlands Angriff auf die Ukraine: Ein empirischer Vergleich mit den G7-Staaten
The Russian attack on Ukraine in February 2022 and the subsequent rapid increase in energy prices have brought the security of energy supply in Germany and Europe back into the public and political spotlight. Against this background, Manuel Frondel, Sven Hansteen, Marielena Krieg, and Christoph M. Schmidt quantify Germany's commodity-specific risks in the supply of oil, hard coal, and natural gas since the late 1970s, as well as the energy supply risk for Germany as a whole. This is followed by a comparison with the other G7 countries. This shows that, according to the indicator designed by Frondel and Schmidt (2009) to measure long-term energy supply security, the risk to energy supply has risen sharply since the end of the 1970s. This is mainly due to the massive increase in crude oil, coal, and natural gas imports from Russia with a simultaneous decrease in domestic shares of oil, coal, and natural gas supply. The paper illustrates how greater diversification of energy commodity imports in terms of sourcing countries and energy commodities and technologies could enhance energy security.
Frondel, M., S. Hansteen, M. Krieg and C. Schmidt (2023), Deutschlands Energieversorgungsrisiko vor Russlands Angriff auf die Ukraine: Ein empirischer Vergleich mit den G7-Staaten. Perspektiven der Wirtschaftspolitik, 24, 2, 233-246