Energy Tomorrow Blog
Imports Fall as America’s Energy Revolution Grows
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Mark Green
Posted April 2, 2014
The U.S. Energy Information Administration (EIA) reports that total net U.S. energy imports declined last year to their lowest level in more than 20 years – reflecting two energy positives for America: growth in domestic oil and natural gas production and increased exports of finished petroleum products. EIA:
Total U.S. net imports of energy, measured in terms of energy content, declined in 2013 to their lowest level in more than two decades. Growth in the production of oil and natural gas displaced imports and supported increased petroleum product exports, driving most of the decline. A large drop in energy imports together with a smaller increase in energy exports led to a 19% decrease in net energy imports from 2012 to 2013.Total energy imports declined faster—down 9% from 2012 to 2013—than in the previous year, while export growth slowed. Crude oil production grew 15%, about the same pace as in 2012, which led imports of crude oil to decrease by 12%, accounting for much of the overall decline in imports.
Shale Natural Gas and Oil: Moving and Shaking the Energy Field
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Mark Green
Posted January 3, 2013
Kevin Bullis, MIT Technology Review’s senior editor for energy, has a piece noting that the most significant advances in the energy field the past year resulted from surging natural gas and oil production from shale via hydraulic fracturing – an impact Bullis says is unlikely to be unsurpassed by other energy sectors in the near future:
Asked and Answered
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Mark Green
Posted July 7, 2011
Tweeting the White House
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Mark Green
Posted July 6, 2011
Drilling Safety, Energy Security
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Jack Gerard
Posted May 25, 2011
Channeling the Keystone XL Pipeline
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Mark Green
Posted May 23, 2011
The Wrong Response: Tax Hikes
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Mark Green
Posted April 29, 2011
More of Our Own Energy
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Jack Gerard
Posted March 3, 2011
Fire Doesn't Support Calls for the Moratorium
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Jane Van Ryan
Posted September 3, 2010
Sound Policy Key to Ensuring Energy Security
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Dean Foreman
Posted January 1, 1
One of the great benefits of increased U.S. oil production over the past decade and a half is strengthened U.S. energy security – decreased reliance on foreign oil suppliers and insulation for American consumers against sudden price increases due to geopolitical events, such as last weekend’s attacks on Saudi Arabian oil facilities
Years ago, an episode like that could’ve caused serious alarm in the United States and globally. Yet, the apparent lack of significant or enduring oil price movement following last weekend’s attack shows the tremendous influence U.S. oil production has had on global markets. The same was true after missile attacks on Saudi facilities in 2019 (see here), which substantially reduced Saudi Arabia’s oil exports for a short period. Both events and their aftermath indicate that U.S. domestic production has largely mitigated the price volatility historically associated with serious geopolitical events.
Still, some cautions are in order.