Countries rated on oil security: Canada ranks #1

Canada is the world's most energy-secure nation, and Indonesia is at the bottom of a new Energy Security Index compiled by Energy Security News and The Washington Times.

The study ranks the top oil-producing nations on their ability to export petroleum products safely to the rest of the world. It bases its assessment on each country'sproduction and refining levels, its level of internal political strife and its ability to transport oil to other nations, given potential - or real - impediments.

Canada, Norway and China are Nos. 1, 2 and 3 in energy security, according to the study, which gleans its data from the Energy Information Administration and the CIA World Fact Book. These nations' oil-exporting businesses would suffer the least from disruption caused by government or internal strife, terrorist attack or a sudden inability to ship by sea, according to the study.

Iraq, Kazakhstan and Indonesia are Nos. 19, 20 and 21 as the least energy secure nations because of government instability, the substantial likelihood that a terrorist attack or conflict at sea could prevent them from exporting oil, and the amount of oil the countries refine per day.

The index also ranks how secure countries are in their oil-consumption habits. And on that list, the U.S. practices the riskiest oil-consumption behavior. The main reason: The U.S. imports most of its oil needs. Of the 21 million barrels of oil the United States uses per day, 14 million barrels are imported.

Consuming countries are ranked on how much oil, if any, they produce and refine per day, as well as where their imports come from and how much they import.

On the oil-production side, the United States ranks as the 11th-most secure among the top 21 oil-producing countries examined for the index. There is little chance that political or governmental discord could affect the U.S. exporting business, but it ranks in the middle among countries whose business might be disrupted by terrorist attacks. Oil security in the U.S. is clearly threatened by the fact that al Qaeda calls it a major target.

Transportation and geopolitical issues clearly correlate to how energy secure a nation is, said Sarah Ladislaw, an energy and national security specialist at the Center for Strategic and International Studies. Energy specialists have placed more emphasis lately on political and internal conflict, as well as the growing danger of piracy on the high seas, when they evaluate how safe oil exports might be.

Saudi Arabia has the world's largest proven oil reserve - 267 billion barrels, or one-fifth of the world's known supply - but it is only the eighth most energy-secure nation owing to the worry that terrorists might attack there. In addition, internal disruptions from occasionally active dissidents could also affect its ability to export oil.

Send this to a friend   More info...
 

 




This Newsletter is published monthly by the
Canadian Consulate General in Chicago

Contact:
Zulfi Sadeque
Consul & Trade Commissioner

Tel: (312) 327-3631
www.investincanada.gc.ca




Powered by


Authorized reproduction with source credit

Subscribe someone you know:
You can introduce News to friends and colleagues who can decide to subscribe:
Click here

Unsubscribe:
we will promptly remove you from our distribution list:
Click here




Print Version

Important notice
International Trade Canada is committed to respecting the privacy rights of individuals who participate in on-line program activities. Participation in the International Trade Canada E-newsletter Program is voluntary and you may unsubscibe or opt-out of this mailing at any time. Whether your contact information was received via e-newsletter subscription form or indirectly (receipt of a business card during an event), you should be aware that this information is being collected and used for the purpose of administering this Program. An invitation contact list could be developed from this data and used to seek your participation at appropriate events. It will not be linked with any other databases nor will it be used for any other purpose without first obtaining your explicit consent. Also, you should know that the E-Newsletter data is used to assist us to better understand your needs. Your personal information is protected from disclosure to unauthorised persons/agencies pursuant to the provisions of the Privacy Act. You should also know that third party commercial information may be subject to requests under the Access to Information Act, but that no information will be released without first consulting with you.