Dear Reader, Energy prices are heading in the same direction everywhere - up. Energy security, however, seems to mean something different all over the world. While Americans dream of independence from oil imports, Europe worries about Russian gas, and India and China struggle to keep up with demand. Read our top story for a detailed analysis.

Didier Houssin of the International Energy Agency, the world's leading energy think tank, tells us that lack of investment in energy is a bigger problem than any shortage of resources.

Safety and Security - the newest topic section on the Allianz Knowledge Partnersite - covers more than just energy. Gunnar Miller, head of equity research at the Allianz investment company RCM, explains why the next global pandemic will probably be less of a problem than the ensuing panic.

Developed countries face another risk: germs that have become resistant to antibiotics. We discuss the threat of these "superbugs" lurking in modern hospitals.

To read the full Allianz Knowledge Newsletter here.

Your Allianz Knowledge Team

Allianz

Allianz

Our world is facing unprecedented challenges ranging from climate change to rapidly growing populations in some parts of the planet, and rapidly aging societies in others.

The Allianz Knowledge Partnersite focuses on these "mega-trends" and tries to create an open forum for debate. Drawing on the knowledge of countless Allianz experts, academic scholars, and NGOs, the Knowledge Site offers articles, interviews, multimedia tools and interactive features.

Why? Because we believe that through the spreading of knowledge, we can find sustainable answers to some of the problems we face today. It helps to create innovation, nurture ideas and develop the solutions we need to move forward.

You want to make a difference? Visit knowledge.allianz.com

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