Report: U.S. oil growth having limited effect on energy security


The U.S. may be set to surpass Russia as the world’s largest oil and natural gas producer, but it ranks fifth out of 13 countries in overall energy security, says a report from Roubini Global Economics (yes, that Roubini) and Securing America’s Future Energy.

The U.S. ranks high because of its relatively high levels of domestic oil production, but its fuel consumption per capita was higher than everyone except Saudi Arabia; the more fuel a country consumes, the more susceptible it is to supply disruptions and price volatility.

Saudi Arabia and Russia, which derive ~90% and ~50% respectively of export revenues from oil, are lowest ranked, while Japan and the U.K. are the top two because they rank lowest on the oil intensity scale; Japan consumes 0.3 barrels of oil per $1,000 of its GDP, but the U.S. consumes nearly twice as much.

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