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“In order to advance the policy objectives of diversification, efficiency, market pricing, technological development, and enhanced investment climates, the United States Government maintains a wide range of bilateral and multilateral engagements with energy producing, consuming and transiting countries.
Chief among the multilateral fora is the International Energy Agency (IEA). The primary role of the IEA is to coordinate measures in times of oil supply emergencies.
While the global oil markets are tight, the U.S. and other IEA member nations have 1.4 billion barrels of crude and refined product in strategic reserves to respond to supply disruptions. Most notably, the IEA and its 26 member countries initiated an emergency response to oil supply shortages caused by Hurricane Katrina less than 48 hours after the extent of the supply disruption became clear.
The threats to stable energy markets come in various forms. By working with like-minded nations, we can broaden our energy options, thereby diminishing the capacity and/or motivation for others to act irrationally in regards to energy security.”
Paul E. Simons Deputy Assistant Secretary for Energy, Sanctions, and CommoditiesStatement before the Committee on Government Reform U.S. House of RepresentativesWashington, DC May 16, 2006 |
| International Energy Agency |
The International Energy Agency (IEA), based in Paris, is an autonomous agency linked with the Organization for Economic Cooperation and Development (OECD). The IEA acts as energy policy advisor for its 26 member countries in their effort to ensure reliable, affordable and clean energy for their citizens.
Founded during the oil crisis of 1973-74, its initial role was to coordinate measures in times of oil supply emergencies. But during the last decades, the energy markets have changed, and so has the IEA.
It now focuses well beyond oil crisis management on broader energy issues, including climate change policies, market reform, energy technology collaboration and outreach to the rest of the world.
With a staff of around 150, mainly energy experts and statisticians from its 26 members countries, the IEA conducts a broad program of energy research, data compilation, publications and public dissemination of the latest energy policy analysis and recommendations on good practices. IEA publications are known worldwide for their objectivity.
IEA member countries seek to create the conditions in which the energy sectors of their economies can make the fullest possible contribution to sustainable economic development and the well being of their people and of the environment.
In formulating energy policies, the establishment of free and open markets is a fundamental point of departure, though energy security and environmental protection need to be given particular emphasis by governments.
IEA countries recognize the significance of increasing global interdependence in energy. They therefore seek to promote the effective operation of international energy markets and encourage dialogue with all participants.
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| Other IEA Initiatives |
The Standing Group on Long-Term Cooperation meets four to six times a year to provide guidance to the Secretariat, to undertake broad policy analysis, to share the results of the in-depth reviews and to provide a lively forum for the development of policies related to economic analysis of the energy sector, energy diversification and regulatory reforms, and climate-friendly energy use.
The Standing Group on the Oil Market (SOM) follows short- and medium-term developments in the international oil market to help IEA Member countries respond promptly and effectively to changes in market conditions. The group works closely with the Standing Group on Emergency Questions (SEQ) in helping the SEQ to develop plans for reacting to oil supply disruptions. The SOM prepares current oil market assessments from information submitted by Member governments, international oil companies and others.
The IEA, through its Committee on Non-Member Countries (CNMC), carries out significant work and organizes workshops covering countries outside the OECD. OECD countries increasingly rely on energy supplies from non-OECD sources. It is therefore important for the IEA to maintain close relationships with non-IEA countries to enhance security of supply, advise on energy policy and regulatory reform and promote energy efficiency and technology.
The IEA brings together policy-makers and experts from Member countries in its Committee on Energy Related Technology to discuss common energy technology issues, to undertake studies and to organize workshops that assist Members with technology policy development. An IEA Framework is provided for more than 40 international collaborative energy research, development and demonstration projects known as Implementing Agreements.
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| Nuclear Energy Agency |
The OECD's Nuclear Energy Agency (NEA) brings together the world's best nuclear expertise among developed countries. It represents 85 percent of the world's nuclear capacity. Through the international collaboration fostered by the NEA, the U.S. has been able to maintain and enhance the scientific, technological and legal basis required for the safe, environmentally friendly and economic use of nuclear energy for peaceful purposes.
For example, the U.S. has benefited significantly from the NEA work on safety criteria for deep geological repositories. This work has provided a high level of assurance for projects requiring large national investments, in particular, the multi-billion dollar Department of Energy waste disposal projects, including the Waste Isolation Pilot Plant (WIPP) now operating in New Mexico, and the Yucca Mountain Project now under development.
NEA legal work has improved the nuclear liability protection of U.S. companies working in Eastern European countries, notably in Ukraine, the Czech Republic and Slovenia. The NEA undertook this work in response to concerns expressed by the U.S. and other G7 countries.
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