『**Abstract**

The paper develops a framework to analyze energy security in
an expected utility framework, where there is a risk of disruption
of imported energy. The analysis shows the importance of an energy
tax as a tool in maximizing expected utility, and how the level
of that tax varies according to the key parameters of the system;
risk aversion, probability of disruption, demand elasticity and
cost of disruption.』

**1. Introduction
2. The statement of the problem
3. A formal representation of the problem
** 3.1. Numerical analysis using specific functional forms

3.2. Numerical ranges for the parameters

4. Numerical results

4.2. sensitivity to probability of disruption

4.3. sensitivity to the price elasticity of demand

4.4. Sensitivity to risk aversion parameter

5. Conclusions

Appendix A

References