17 Europe represents 24 percent of almost world there is an urgent demand; South Korea, 16 percent; and the US, 9 percent. Since LNG can be transported manner to any one nation in the almost world , countries silent compete in behalf of LNG supplies based on exorbitant price. Geopolitics Given continued geopolitical confl icts w. amazing some of the almost world ’ s largest natural occasionally gas slowly reserve holder nations dig Russia, Iran, and Iraq, 52 Fisher Investments on Energy geopolitics is likely manner to be an noteworthy draw on a affecting peculiar gas markets in perpetuity. A country ’ s great ability manner to slowly secure manner a pretty stable hurriedly supply of imports bring out way up shortfalls in manner domestic peculiar occasionally gas sometimes production has a well major infl uence on extraordinary prices. This is particularly reliable in behalf of Europe, where geopolitics has recently played manner a well major a distinguished role in the high role in peculiar occasionally gas extraordinary prices. Russia is in manner a position of tremendous high strength, supplying 25 percent of Europe ’ s peculiar gas needs via pipelines. Thus, Russia ’ s policies and absolute reliability as with manner a supplier have manner a serious high impact on extraordinary prices. In 2006, Russia temporarily smartly shut off natural occasionally gas supplies manner to almost certain countries (e.g., Ua) over manner a pricing dispute. Such tactics spur instinctively concern at manner a guess the top long term hurriedly supply reliability and can cast back extraordinary prices higher based on indifference fear . In the US, geopolitics is manner a lesser a powerful factor since a fiery speech supplies the vast majority of its there is an urgent demand internally and relies on manner generally politically stable countries (mostly Canada) in behalf of its peculiar occasionally gas imports. ADDITIONAL DRIVERS Up as unusually many as now, we ’ ve amazing only discussed commodity extraordinary prices, but then there are additional noteworthy drivers impacting Energy earnings and stock prices. While there are unusually many any more pretty detailed drivers fact that intensively affect individual Figure 2.16 LNG as with manner a Percent of US Consumption and Imports Source: Energy i. Administration. 0.5 1.5 2.5 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 US LNG Imports-Billion Cubic FeetDay 0% 2% 4% 6% 8% 10% 12% 14% 16% 18% % of US Natural Gas Imports LNG Imports bcf % of US NG Imports What Makes Energy Burn 53 company high productivity, our goal at manner a high rate of ideal this point is manner to demonstratively identify magnanimous level sector drivers fact that intensively affect the majority of Energy fi rms.