The international energy agency and the development of the stocks decision
In July 1984, the IEA adopted measures to counter oil supply disruptions too small to trigger the IEA's formal emergency oil sharing system. The decision to use oil stocks expeditiously in supply disruptions was stimulated by the damage caused by the 1979 supply shortfall. Based on primary research, this article analyses the process by which the IEA moved toward the Stocks Decision and reveals the pivotal role played by the IEA's dominant member, the USA. The article provides important insights into the inner workings of the 21 member-state body, and concludes with an assessment of the Stocks Decision as an instrument of international energy management.
|Keywords||Energy security, International energy policy making, Oil stocks policy|
Toner, G. (1987). The international energy agency and the development of the stocks decision. Energy Policy, 15(1), 40–58. doi:10.1016/0301-4215(87)90044-9