We present estimates of global energy efficiency by applying second-law (exergy) analysis to regional and global energy balances. We use a uniform analysis of national and regional energy balances and aggregate these balances first for three main economic regions and subsequently into world totals. The procedure involves assessment of energy and exergy efficiencies at each step of energy conversion, from primary exergy to final and useful exergy. Ideally, the analysis should be extended to include actual delivered energy services; unfortunately, data are scarce and only rough estimates can be given for this last stage of energy conversion. The overall result is that the current global primary to useful exergy efficiency is about one-tenth of the theoretical maximum and the service efficiency is even lower.