The portfolio managers at Standish and The Boston Company, both in Boston, use a country-by-country analysis to assess the risk and return expectations for equities, bonds and even currencies.
Actually, since the billionaire counts for larger countries (USA, China) were given I took the time to manually count myself (after sorting bycountry) to do the analysis I wanted to do.
While Australia is the best part of 10-years behind the U.S. in terms of exploring for and developing its unconventional oil and gas potential it is a country which featured prominently in a 2011 analysis of world shale gas potential by the U.S. Energy Information Agency.