Description

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.

Taxonomy

Balance of trade , Consumption , Economic development , Economic sectors , Energy sector , Exports , Imports , International trade

More publications in this series: Working Papers

More publications by: Prakash Loungani ; Gail Cohen ; Frederick L. Joutz