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LONDON, ENGLAND – APRIL 24: British Prime Minister Keir Starmer greets President of the European … More Commission, Ursula von der Leyen at the International Summit on the Future of Energy Security at Lancaster House April 24, 2025 in London, England. Getty Images Last week, the government of the United Kingdom and the International Energy Agency convened representatives from sixty countries and fifty companies to an International Summit on the Future of Energy Security. The speeches and discussions reiterated several well-known principles for energy security, including the importance of diversifying energy sources, providing policy predictability, and fostering international cooperation. Participants also recognized, as is also commonly acknowledged, that energy security means different things to different countries, depending on their income level and natural resource endowments. Europe’s Energy Security Strategy The novelty—if it can be called that—came from a reaffirmation of the emerging European understanding of how to apply these principles in the face of Russia’s invasion of Ukraine, global supply chain disruptions, and climate change. While the United Kingdom and the European Union, like virtually every country, equate energy security with national security, they now advocate investing more heavily in the energy transition to strengthen their domestic energy sectors and, they hope, achieve greater independence. From their perspective, “homegrown” energy sources are less susceptible to outside manipulation than imported fossil fuels. Moreover, clean investments can be drivers of job creation and environmentally sustainable growth. U.K. Prime Minister Keir Starmer’s remarks illustrated this view. After observing that his country, like many others, has suffered from “overexposure” to international energy markets—leaving the economy and household budgets vulnerable “to the whims of dictators like Putin, to price spikes, and to volatility that is beyond our control”— he stated that his government’s policy would be “to seize the opportunity of the clean energy transition,…

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Filed under: News - @ April 29, 2025 9:25 pm