Global energy security risks have increased sharply — says report to G8

A report submitted to the G8 summit said Thursday that the global energy security risks have increased sharply because of steeply rising oil import demand in developing countries, the narrowing margin between oil supply and demand that has driven up prices.

In addition the report cites factors like the volatility of oil prices arising from international tensions, terrorism and the potential for supply disruptions; the concentration of known hydrocarbon reserves and resources in a limited number of the world’s sub-regions; and the restricted access to oil and gas companies to the development of hydrocarbon reserves in some countries.
KUNA