The potential economic damages from oil supply disruptions could be suppressed by emergency preparedness and response measures. As two of the most feasible response measures, oil import tariff and strategic petroleum reserve (SPR) could alleviate short-run oil supply and demand imbalance...

The unequal distribution of the world’s natural resources is a longstanding problem. In comparative terms, nature has served Europe meagrely when it comes to energy resources. In the face of ever-rising demand, the exhaustion of domestic resources and rising import dependency due are the...