American Energy’s Global Impacts

Mary Schaper
Posted June 9, 2014

U.S. Energy Security Reaches Highest Level in a Quarter Century

Wall Street Journal (Joseph Nye): HOUSTON — The United States produced enough energy to satisfy 84 percent of its needs in 2013, a rapid climb from its historic low in 2005, according to a report from the U.S. Energy Information Administration.

The nation produced 81.7 quadrillion British thermal units of energy last year and consumed 97.5 quadrillion, the highest ratio since 1987. The nation’s energy output rose 18 percent from 2005 to 2013, as a surge in oil and gas production offset declines in coal. Meanwhile, its total energy used fell 2.7 percent during that period.

The nation’s ability to meet its own energy needs hit an all-time low in 2005, when the amount of energy produced domestically met just 69 percent of demand. The last time the United States’ energy production exceeded its energy use was in the 1950s, according to the Energy Information Administration, an agency of the Energy Department.

It attributed the nation’s rising energy security largely to the increased production of oil and natural gas, which has been fueled by the domestic shale boom. The rise of new drilling and production technology, namely hydraulic fracturing and horizontal drilling, has allowed companies to tap more reservoirs deeply buried in dense rock formations.

Read more: http://bit.ly/UoKTlr

More industry news:

• Oklahoma Poised to Become Top Oil Producer: http://bit.ly/1kWXtlx

• Shale Gas is America’s Geopolitical Trump Card: http://on.wsj.com/SHjycT (subscription publication)

• How Much Does Your College Major Carry in the Real World? http://bit.ly/1o6kkOZ

• Nigerian Oil Exports to U.S. Severely Hit by Shale Production: http://bit.ly/1o6l0UC

• Only a Fraction of Big Gas Export Projects Will Be Built, Shell Says: http://bit.ly/1liKSZK