A recent report by the U.S. Energy Information Administration shows that domestic energy production has reached a point where the U.S. is producing more oil than Saudi Arabia. Production is nearly on par with Russia, the world’s leading crude oil producer.
U.S. to be Energy Independent by 2020
Several production forecasts show that the United States should be energy independent by 2020. In other words, U.S. energy production has exceeded most estimates. U.S. shale fields have continued to produce crude oil at a regular rate while improved technologies have made shale extraction more efficient and cost-effective.
Shale does get its fair share of press, but natural gas production in the United States. is even more impressive. This cleaner burning fuel is less expensive, power plants that use natural gas require less maintenance, and the United States has increased its exports of natural gas.
All of these factors have had a positive impact on U.S. energy production and usage. Furthermore, new power plants that run on natural gas seem to pop up as frequently as new cell phone models.
Slight Increase in U.S. Energy Use
In addition, U.S. energy usage is expected to increase only marginally. With healthy population growth, experts expect that energy usage will actually increase, but several factors have played a role in taming American energy demands.
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