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Saudi Arabia may have built its entire country on oil money and the US may be in the midst of an unprecedented oil boom, but are these countries ready for the future of energy?
According to a new study by the World Economic Forum, they aren’t.
The Global Energy Architecture Performance Index report identifies three factors that will shape future energy systems: Environmental sustainability, security of supply, and economic growth and development (a measure of how energy supplies boosts productivity and facilities income generation.)
The report looks at 124 countries and ranks them based on these three factors.
The results
Which countries are best prepared? And which countries are least prepared?
In the number one spot is …
Oil rig in the Norwegian port of Sandnes.
Norway has vast natural resources but it’s also focused on developing renewable, sustainable energy, which makes it a top performer across the index. Norway’s offshore assets make it the third-largest exporter of energy in the world and provide a reliable source of future production. Norway has also set itself the target of reducing its 1990 levels of greenhouse gas emissions by 30% by 2020. It plans on becoming carbon-neutral by 2050. According to the WEF, virtually all of Norway’s electricity supply comes from hydro.
