CHART: The US Is A Long Way From Energy Self-Sufficiency

The Washington Post had a big splash recently on how America’s fracking revolution has transformed the world’s oil map. The story quotes one analyst saying, “For the United States, there is a glimmer of the possibility of self-sufficiency.”

But at least one analyst believes it may not even be that much.

ITG’s Energy Research lead energy economist Judith Dwarkin recently gave a presentation where she argued that a “sizable gap” remains between US production and US consumption. 

Here’s her main evidence:

gap1

Photo: ITG

Consumption is now around 19 MMbd, versus about 8 MMbd worth of production. 

To be sure, the gap is likely to narrow with further technology improvements and more efficient consumption.

But the “glimmer” is likely to remain just that.

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