THE FUTURE
269
It might be argued that the degree of dependence has no impact
on energy security as long as foreign oil is imported form secure
sources. However, if the degree of dependence on non-secure
sources increases, energy security would be in jeopardy. In this
case, vulnerability would increase and economic and national security of individual oil-importing countries would be compromised.
One or more key suppliers can use the percentage of imports
from the top five suppliers as a measure of the supply vulnerability to an interruption. This is an important measure of the vulnerability of the United States to supply disruption because it shows
the high level of import concentration by importing from few suppliers. The top five suppliers to oil-importing countries are Saudi
Arabia, the former USSR, Norway, Venezuela, and Mexico. The
United States has a unique arrangement as well as location with
Canada and Mexico but the political stability of Saudi Arabia is
always open to discussion and question. In addition, problems in
Venezuela underline the United States vulnerability to interruption
from a major supplier. Venezuela has had severe problems and the
potential for an interruption in oil supply always exist. Iraq crude
has off the market for several years (oil supply from is only just
starting again) and conflict in Nigeria has significantly influenced
oil output.
Another important measure of vulnerability is the share of
world crude coming from the Gulf region. The Gulf region has
been viewed historically as a politically unstable area. Incidents in
the region led to the three energy crises in 1973,1979, and the two
recent Gulf Wars. While a smaller share of imported oil from the
Gulf producers means lesser vulnerability, it may increase vulnerability buy having to rely on other sources, such as Venezuela.
Whichever measure is used to assess energy dependence, the
United States remains susceptible to an energy crisis because of the
high dependence on imported oil. The United States has not made a
significant reduction in dependence on imports since the mid 1980s
and they continue to import almost 70% of the total petroleum
consumption.
The petroleum share in the total energy supply also reflects the
dependence on petroleum by the United States. In recent years;
however, this share has increased in the United States. Because of
this, the United States is highly vulnerable to oil supply disruptions.
Indeed, the possibility of energy crisis in the foreseeable future is
greater than in previous years. Furthermore, the use of the Strategic
269
It might be argued that the degree of dependence has no impact
on energy security as long as foreign oil is imported form secure
sources. However, if the degree of dependence on non-secure
sources increases, energy security would be in jeopardy. In this
case, vulnerability would increase and economic and national security of individual oil-importing countries would be compromised.
One or more key suppliers can use the percentage of imports
from the top five suppliers as a measure of the supply vulnerability to an interruption. This is an important measure of the vulnerability of the United States to supply disruption because it shows
the high level of import concentration by importing from few suppliers. The top five suppliers to oil-importing countries are Saudi
Arabia, the former USSR, Norway, Venezuela, and Mexico. The
United States has a unique arrangement as well as location with
Canada and Mexico but the political stability of Saudi Arabia is
always open to discussion and question. In addition, problems in
Venezuela underline the United States vulnerability to interruption
from a major supplier. Venezuela has had severe problems and the
potential for an interruption in oil supply always exist. Iraq crude
has off the market for several years (oil supply from is only just
starting again) and conflict in Nigeria has significantly influenced
oil output.
Another important measure of vulnerability is the share of
world crude coming from the Gulf region. The Gulf region has
been viewed historically as a politically unstable area. Incidents in
the region led to the three energy crises in 1973,1979, and the two
recent Gulf Wars. While a smaller share of imported oil from the
Gulf producers means lesser vulnerability, it may increase vulnerability buy having to rely on other sources, such as Venezuela.
Whichever measure is used to assess energy dependence, the
United States remains susceptible to an energy crisis because of the
high dependence on imported oil. The United States has not made a
significant reduction in dependence on imports since the mid 1980s
and they continue to import almost 70% of the total petroleum
consumption.
The petroleum share in the total energy supply also reflects the
dependence on petroleum by the United States. In recent years;
however, this share has increased in the United States. Because of
this, the United States is highly vulnerable to oil supply disruptions.
Indeed, the possibility of energy crisis in the foreseeable future is
greater than in previous years. Furthermore, the use of the Strategic