However, the most recent data from the U.S. Energy Information Administration (EIA) shows that the United States had more proven reserves of crude oil and natural gas in 2010 than it did 25 years prior, despite population growth of approximately 30% and the requisite increases in energy consumption that accompanied it.2 (Not to mention the 45% increase in vehicle miles traveled over the same period.) Further, to the surprise of the 1970s energy doomsday pundits, the imported share of petroleum into the United States has fallen every year since 2005, when the country reached its import zenith of 60% of consumption. Today, the EIA estimates that the United States imports nearly half of that at 35%.
0.08 0.07 0.06 0.05
Consumption per capita
0.04
Imported petroleum per capita
0.03 0.02 0.01
14 20
10 20
06 20
02 20
19
19
98
0
94
Energy efficiency gains account for reductions in oil consumption and import.
Million Barrels of Oil Equivalent Per Day (mmboe/d)
Chart 1: Reductions in oil consumption and imports
Sources: U.S. Energy Information Administration and U.S. Bureau of the Census Note: 2013 and 2014 values are projections from their respective sources.
The most shocking revelation of America’s energy trajectory, however, is the prediction that the United States could become a net exporter of petroleum products and natural gas in the foreseeable future. How did an entire country go from waiting in the 1970s’ odd/even gas lines to being a potential exporter of energy? This is the remarkable story of North America’s energy revolution.
Energy in America: Yesterday and tomorrow Historically, North America has been viewed as highly dependent on imported energy. In 2010, the United States consumed 19,148 million barrels of oil equivalent per day.3 Producing only 8,593 million domestically, the country was importing 55% of its fuel to meet demand, primarily in the form of oil. That percentage has already decreased to an estimated 48% in 2013, and is forecast to continue its steady decline.4 It is an epic confluence of efficiency and technology that is attributable to this growing independence from imported oil. The United States has become significantly more energy efficient over the last 25 years, and is projected to continue increasing its efficiencies over the next 25. Increases in consumer awareness of energy conservation, energy efficiency of household appliances, and fuel economy standards are all accountable for the marked decrease in American energy consumption. This is despite healthy population growth and rising affluence during the same period.
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