Energy security as a rationale for governmental action

Over the past century, energy security has been a common rationale for governmental actions. In this paper, a brief examination of the histories of oil and electricity is taken to show that unfettered markets do not ensure adequate energy security, that rationales for governmental intervention have evolved over time, and that economic and political interests have been inextricably interklinked throughout. It is also emphasized that the energy security lens has significant implications in the current policy debate over the hydrogen economy.