The United States is projected to become a net energy exporter over the next decade due to rising natural gas exports and falling petroleum product imports, the U.S. Energy Information Administration said on Thursday.
While the United States has been a net energy importer since 1953, declining energy imports and growing exports that started over the past year will allow that trend to switch by 2026, the EIA said.
In late 2015, the U.S. government lifted a decades-old ban on U.S. crude exports, while natural gas exports from the Lower 48 began in 2016.
“The U.S. could be completely, and the phrase that was used at one time, energy independent,” EIA Administrator Adam Sieminski said during a conference presenting the agency’s 2017 annual energy outlook. Read More…