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Since Venezuela's nationalization of oil, anti-American Hugo Chávez threatened to cut off supplies to the United States more than once. This has been done to apply pressure during economic negotiations—such as during the 2007 Russia–Belarus energy dispute.The 1973 oil embargo against the United States is a historical example in which oil supplies were cut off to the United States due to U. Terrorist attacks targeting oil facilities, pipelines, tankers, refineries, and oil fields are so common they are referred to as "industry risks".However, the uneven distribution of energy supplies among countries has led to significant vulnerabilities.
Energy security is the association between national security and the availability of natural resources for energy consumption.
Access to (relatively) cheap energy has become essential to the functioning of modern economies.
Keep scrolling to see an updated version of Johnson’s photo essay, which shows the effects of Canadian oil mining — a process in which oil-laden sand is dug from the ground, the fuel separated out, and the land converted back into use for wild plants and animals.
Today that process makes up about 50% of the Keystone XL pipeline’s oil, while less-visible “in situ” pumping generates the rest.
The XL segment already is partially built, and may ultimately cost entrepreneurs more than $10 billion.
Upon completion, it would move larger volumes of oil in less time by shortening the route and burying larger-diameter pipes.
Renewable resources and significant opportunities for energy efficiency exist over wide geographical areas, in contrast to other energy sources, which are concentrated in a limited number of countries.
Rapid deployment of renewable energy and energy efficiency, and technological diversification of energy sources, would result in significant energy security and economic benefits.
C., warns, "It may take only one asymmetric or conventional attack on a Ghawar Saudi oil field or tankers in the Strait of Hormuz to throw the market into a spiral." New threats to energy security have emerged in the form of the increased world competition for energy resources due to the increased pace of industrialization in countries such as India and China, as well as due to the increasing consequences of climate change.
Increased competition over energy resources may also lead to the formation of security compacts to enable an equitable distribution of oil and gas between major powers.