Energy Security Models- A Critical Review and Applicability in Indian Context

Authors surveyed the recent literature on energy security along with commonly cited approaches to the issue and studied various models of energy security reflecting both long term and short term security issues. The models were critically analyzed and authors observed that except for IEA’s MOSES and Oil Venerability Index (OVI) all the models have insufficient indicators or parameters while analyzing the isolated case of oil security with respect to both short and long term oil security. Based on the critical analysis of these models authors suggested IEA model of Short Term Energy Security (MOSES) as the ‘best fit’ model in the Indian context to determine the short term energy security profile of each energy constituent of the country. Author also suggested that the insight from the individual energy constituent profile will assist the policy makers to develop long term energy security strategies. Periodic analysis of energy constituents on this model is also suggested so as to make necessary shift in the long term strategies.