Energy Security and Climate Change: Issues, Strategies, and Options (ESCC 2008)

As the number of developing countries and fast growing markets increases, more countries are in need of vital energy resources. Essential to all activities of humankind, infrastructure, transportation, commerce, communication, and human development, en...

As the number of developing countries and fast growing markets increases, more countries are in need of vital energy resources. Essential to all activities of humankind, infrastructure, transportation, commerce, communication, and human development, energy is indispensable and crucial to the economy of any country. However, the fact is, regional distribution of energy resources, particularly oil and gas, is very uneven. Abo ut 57% of the global oil reserves are located in the Middle East, 23% in North and South America, 7% in Africa and 13% from the rest of the world (EIA, 2007). For natural gas, 58 percent of the reserves are in just three countries – Russia, Iran, and Qatar, the rest are scattered in North and South America (8%), Africa (7%), and in other regions (12%). This uneven distribution creates unbalanced development throughout the world and sets forth the issue of energy security as well. Furthermore, energy rich countries could use their market power against the disadvantaged countries not only economically but also in times of conflict and tension.

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