Full Title: Measuring Energy Security: Trends in the Diversification of Oil and Natural Gas Supplies
Author(s): Gail Cohen, Frederick Joutz and Prakash Loungani
Publisher(s): International Monetary Fund
Publication Date: February 1, 2011
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Description (excerpt):
We present evidence on one facet of energy security in OECD economies—the extent of diversification in sources of oil and natural gas supplies. Viewed from the perspective of the energy-importing countries as a whole, there has not been much change in diversification in oil supplies over the last decade, but diversification in sources of natural gas supplies has increased steadily. We document the cross-country heterogeneity in the extent of diversification. We also show how the extent of diversification changes if account is taken of the political risk attached to suppliers; the size of the importing country; and transportation risk.