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America net exporter of oil9/21/2023 ![]() Some other countries can be seen as reliant on the United States’ refined and lighter oil product in order to mix it with their thicker oil so that it effectively travels through pipelines. may be identified as energy independent, there are still logistics to consider. The graphic above, depicts several statistics of the ins and outs of crude and other products. It imports about 4 million barrels of crude oil and exports about 4 million finished products. produces about 12 million barrels of crude and has a supply of other sources like natural gas liquids and ethanol. consumes almost 20 million barrels of crude oil and petroleum products a day. is set to be a net oil exporter by 2020, 1 but that doesn’t necessarily mean imports are going away, and we will discuss why a little later.Ĭurrently, the U.S. is energy independent, mostly regarding oil. In the Low Oil and Gas Resource and Technology case, net natural gas exports begin to decrease in the mid-2020s, reaching 6.7 Bcf/d by 2050.There has been recent news and opinion suggesting the U.S. In the High Oil Price case, net natural gas exports reach a high of 37.4 Bcf/d by 2050. In the Reference case, net natural gas exports reach a high of 23 billion cubic feet per day (Bcf/d) in 2050. natural gas export growth is projected to slow as U.S.-sourced LNG becomes less competitive in world markets. After near-term increases in LNG exports, U.S. Most of the differences between cases can be attributed to differences in projections for liquefied natural gas (LNG) trade as opposed to pipeline shipments of natural gas.Īs LNG export facilities that are currently under construction are completed, LNG exports are projected to increase, especially to countries in Asia. The United States transitioned to a net exporter of natural gas in 2017, and all cases in the AEO2018 project the United States remains a net exporter of natural gas. Net petroleum exports in the High Oil and Gas Resource and Technology case grow throughout the projection period, ultimately reaching 8.5 million b/d by 2050. By 2030, net petroleum trade ranges from exporting 5.3 million b/d in the High Oil Price case to importing 4.6 million b/d in the Low Oil Price case. Net petroleum imports vary significantly across price and resource cases as domestic crude oil production shifts. ![]() In the AEO2018 Reference case, petroleum net imports are projected to decrease through 2035, as increasing production and decreasing domestic demand result in lower petroleum imports and more exports. net petroleum trade-crude oil, petroleum products, and natural gas plant liquids-has fallen in recent years, reaching 3.8 million barrels per day (b/d) in 2017 based on data through November. ![]() Note: Petroleum net imports include crude oil, petroleum products, and natural gas plant liquids (NGPLs). net energy trade still decreases, but the United States remains a net energy importer through 2050. In cases with relatively low oil prices or less favorable assumptions for geology and technological developments, U.S. In the High Oil and Gas Resource and Technology case, with more favorable assumptions for geology and technological developments, the United States becomes a net exporter in 2020, and net exports increase through the end of the projection period. In that case, higher crude oil prices also result in higher petroleum product prices and lower consumption of petroleum products, driving decreases in net petroleum imports. The transition of the United States to a net energy exporter is fastest in the High Oil Price case, where higher crude oil prices lead to more oil and natural gas production and transition the United States into a net exporter by 2020. Sensitivity cases with less energy production project that the United States will remain a net energy importer through 2050. The transition from net energy importer to net energy exporter occurs even earlier in some sensitivity cases that modify assumptions about oil prices or resource extraction. Energy Information Administration, Annual Energy Outlook 2018ĮIA projects that the United States will become a net energy exporter in 2022 in the newly released Annual Energy Outlook 2018 (AEO2018) Reference case, primarily driven by changes in petroleum and natural gas markets.
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