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Oil Supply Security: Emergency Response of IEA Countries 2007

This is an extract, full report available as PDF download

When Hurricane Katrina hit the Gulf of Mexico in 2005, the region’s oil production and refining infrastructure was devastated and world energy markets were disrupted. The International Energy Agency decided in a matter of days to bring 60 million barrels of additional oil to the market. The emergency response system worked – the collective action helped to stabilise global markets. This book describes the oil emergency response systems of IEA countries and assesses how well prepared the IEA is to deal with an oil supply disruption.