Wednesday, October 17, 2012

Is China or Uncle Sam More Energy Secure? Both Trail Mexico & UK

The United States Chamber of Commerce has a new index measuring energy security of nations.  And the results show that the United States ranks 7th in energy security, well above China that occupies the 15th spot.

The most energy secure country is Mexico, reflecting its large domestic energy production and comparatively small demand, while the United Kingdom, Norway, New Zealand, Denmark, and Australia in that order are spots 2 to 6. 

And what would be the least energy secure country?  Putin knows the answer.  It's the Ukraine, followed by Thailand, South Korea, Netherlands, Brazil, Italy, Turkey, and Japan.

Rising oil, gas and non-hydro renewable energy production combined with increasing energy efficiency in the USA means that the US is getting more energy secure and not less.  Indeed, the US produces currently about 83% of the total energy that it consumes.

Despite this increasing energy self-sufficiency, oil is priced in a global market and it has been persistently expensive.  High oil prices for 100% of the oil consumed here and our need to import about 42% of all our oil needs remain the two biggest examples of US energy insecurity. 

Passing the Natural Gas Act, boosting electric vehicles, increasing oil efficiency, and raising biofuel production remain all necessary responses posed to our national and economic security by high oil prices and imports.

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