Measurement of EU27 oil vulnerability

Roupas, CV; Flamos, A; Psarras, J

dc.contributor.author	Roupas, CV	en
dc.contributor.author	Flamos, A	en
dc.contributor.author	Psarras, J	en
dc.date.accessioned	2014-03-01T01:31:03Z
dc.date.available	2014-03-01T01:31:03Z
dc.date.issued	2009	en
dc.identifier.issn	17506220	en
dc.identifier.uri	https://dspace.lib.ntua.gr/xmlui/handle/123456789/19728
dc.subject	Energy industry	en
dc.subject	European Union	en
dc.subject	Oil industry	en
dc.subject.other	Design/methodology/approach	en
dc.subject.other	Energy availability	en
dc.subject.other	Energy industry	en
dc.subject.other	EU policy	en
dc.subject.other	European Union	en
dc.subject.other	High price	en
dc.subject.other	Member countries	en
dc.subject.other	Oil industry	en
dc.subject.other	Oil Prices	en
dc.subject.other	Oil supplies	en
dc.subject.other	Precise analysis	en
dc.subject.other	Risk issues	en
dc.subject.other	Security of supply	en
dc.subject.other	Statistical techniques	en
dc.subject.other	Time periods	en
dc.subject.other	Petroleum refineries	en
dc.subject.other	Principal component analysis	en
dc.subject.other	Risk perception	en
dc.subject.other	Security of data	en
dc.title	Measurement of EU27 oil vulnerability	en
heal.type	journalArticle	en
heal.identifier.primary	10.1108/17506220910970597	en
heal.identifier.secondary	http://dx.doi.org/10.1108/17506220910970597	en
heal.publicationDate	2009	en
heal.abstract	Purpose: The purpose of this paper is to compare the security of oil supply of the 27 European Union (EU27) member countries throughout the measurement of the vulnerability that their economies have exhibited to oil during the period from 1995 to 2007. Additionally, the EU27 future oil vulnerability is to be estimated for two indicative scenarios: a low oil price projection and a high price one. The two projections are going up to 2030. Design/methodology/approach: Six indicators that quantify the core concepts that affect the security of supply of a country have been integrated in a synthetic index that measures the vulnerability of the case study countries for the time period under consideration. For the development of the synthetic index the principal component analysis (PCA) has been applied. Findings: The results of this paper are illustrative of the existing vulnerabilities in the oil supply that may signal for a common EU policy addressing the energy availability risk issue. Research limitations/implications: The main limitation of the analysis is the usage of six indicators in order to capture the core essence of vulnerability and security of supply. The integration of additional indicators in the synthetic index may strive towards a more precise analysis. Originality/value: The contribution of the paper lies in the usage of a statistical technique, PCA, for the development of a synthetic index that specifies the vulnerability in oil for EU27. © Emerald Group Publishing Limited.	en
heal.journalName	International Journal of Energy Sector Management	en
dc.identifier.doi	10.1108/17506220910970597	en
dc.identifier.volume	3	en
dc.identifier.issue	2	en
dc.identifier.spage	203	en
dc.identifier.epage	218	en