Energy, resources and food
Date
2012-12
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ANU Press
Abstract
In this issue we address one of the most important concerns in Asia: security over natural resources or about how to ensure we have sufficient food, water, energy, and other resources at an accessible cost and within tolerable levels of risk now and into the future. The need for a stable food supply, at reasonable prices, has resulted in a much greater focus on ‘basic’ security needs in terms of the future adequacy of food and water. At the same time, the world is experiencing an energy transformation with adoption of new technologies in unconventional fossil fuel production and renewables and a shift of importance to Asia in terms of future energy demand. The OECD projects that the global demand for water resources will grow by at least half by 2050 relative to 2000 levels while global food demand is expected to double over the same period. Yet climate change models project that there will be increased climate variability that will likely exacerbate food and water supply shocks. While domestic resource self-sufficiency is appealing, very few countries have the energy, minerals, land or water resources to provide for their own projected needs. The evidence in this quarterly suggests that support for multilateral institutions, investment mobility, research and development for basic research, effective resource management and international trade are key factors to manage resource security risks. Managing resource risks in an insecure world will differ by country, the type and possible magnitude of the risks, and national, regional vulnerabilities. Nevertheless, the multidimensional nature of resource security demands that critically important natural capital stocks be conserved at a regional and global level and that special consideration be given to the particular vulnerabilities of poor countries while following market-based approaches to ensure adequate resource supplies. Whatever the national approach adopted towards resource security, we stress that promoting resource security is not a zero-sum game. All countries can benefit from a multilateral and a sustainable market framework that provides incentives for producers and delivers reliable supply to consumers.
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Source
East Asia Forum Quarterly
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Magazine issue
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Open Access via publisher website