U.S. Shows Strength in U.S. Chamber’s 2018 International Index of Energy Security Risk
WASHINGTON, D.C. – The 2018 edition of the International Index of Energy Security Risk from the U.S. Chamber’s Global Energy Institute shows that the United States has continued its meteoric rise from 9th place a decade ago to 2nd place this year.
The Index uses 29 metrics to assess energy security for a group of 25 countries that accounted for about four-fifths of global energy demand from 1980 to 2016, the latest year reliable data are available. Index scores are also calculated for 50 other countries and are available using the International Index interactive map.
This year’s Index features a foreword from U.S. Secretary of Energy Rick Perry, who noted that the trends apparent in the report are a reflection of private sector innovation and determination.
“This Index and the EIA [U.S. Energy Information Administration] have spotlighted striking energy trends across nations,” wrote Secretary Perry. “None is more consequential than the energy transformation that has occurred in the United States. In less than a decade, the U.S. has moved from heavy dependence on energy imports to the cusp of energy independence.”
Among the 25 largest energy users, the report finds that the top five nations in energy security are Norway, the United States, the United Kingdom, Mexico, and Denmark. The bottom five are Japan, Turkey, South Korea, Thailand, and lastly, Ukraine. The Index includes an explanation of each nation’s energy situation and ranking.
“This year’s Index confirms that the world’s center of energy power has shifted to North America,” said Karen Harbert, president and CEO of the Global Energy Institute. “With the U.S., Canada, and Mexico all ranked in the top seven, North America has never been stronger. Much of that success is due to the rise of shale in the U.S., which has had profound energy, economic, and geopolitical consequences over the past decade.”
Overall, increased global crude oil production from the U.S., Iraq, Saudi Arabia, and Russia helped offset declines from specific nations with instability and from declining North Sea production. On the electricity side, there remains a wide divergence in prices, with the highest prices clustered in Western Europe. The U.S. is one of just four nations to have seen electricity prices decline since 2010.
The 2018 report contains more detail than previous editions, including the ability to track how much the eight metric groups contribute to each nation’s Index score over time. An interactive tool with data on 75 nations is housed on the Global Energy Institute’s website.
The mission of the U.S. Chamber of Commerce's Global Energy Institute is to unify policymakers, regulators, business leaders, and the American public behind a common sense energy strategy to help keep America secure, prosperous, and clean. Through policy development, education, and advocacy, the Institute is building support for meaningful action at the local, state, national, and international levels.
The U.S. Chamber of Commerce is the world's largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations.