The U.S. has achieved and expanded its energy independence since 2019, with growing surpluses under both the Trump and Biden administrations.
The idea of U.S. energy independence remains a hot topic, even making an appearance at the recent presidential debate. Everyone seems to have an opinion on it, even though many people have trouble defining what it means. Establishing Consistent Terminology It’s important to understand that the following two statements are each true under a consistent definition of energy independence. If the U.S. is not energy independent under Joe Biden , then it was never energy independent under Donald Trump .
Net U.S. energy imports hit a record high in 2005, but since then have steadily declined due to the surge of oil and gas production released by the shale boom. In 2019, net U.S. energy imports became net exports, and that is the measure by which many — including Donald Trump — declared energy independence. However, we didn’t lose this status under Joe Biden. To the contrary, U.S. oil and gas production continued to grow, as shown in the next graphic. In 2022 the net energy surplus reached 5.
I covered this development a year ago in U.S. Energy Independence Soars To Highest Level In Over 70 Years. But last week the EIA updated the numbers to include 2023. They also revised 2022 down to 5.83 quads, which was still higher than any excess under Trump. The net energy surplus in 2023 grew to 7.80 quads — the highest number on record. In 2019, that number had been only 0.61 quads of net energy surplus. Thus, Statement 2 above is correct.
Energy Surplus U.S. Energy Oil And Gas Production Shale Boom Donald Trump Joe Biden U.S. Energy Policy Net Energy Imports Net Energy Exports
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