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.

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.


Tagged In

moneygame-us oil