GLOBAL OIL

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JAPAN

Japan has the world's 2nd largest economy, yet must import almost 80% of the fuel necessary to run it.

After the "oil shocks" of the 1970's, Japan has worked to diversify its dependence on foreign oil for energy -- from 75% in the 70s to 57% today. The country increasingly uses more natural gas, coal, nuclear and hydropower.

The Japanese also lead the world in fuel-efficient vehicles. Mass-produced hybrid (gas-electric) vehicles have reduced their gas consumption, as have high taxes on gas-guzzling auto engines and on gasoline itself.

Production   --              minimal
Exports   --              minimal
Imports
5,449,000 barrels per day
Consumption
5,434,000 barrels per day
Reserves   --              minimal