The U.S. Energy Information Administration (EIA) said Monday that the United States is projected to become a net energy exporter in 2022, primarily driven by changes in petroleum and natural gas markets, an analysis based on its Reference case.
Meanwhile, the transition of the United States to a net energy exporter is even faster in High Oil Price case, where higher crude oil prices lead to more oil and natural gas production and transition the United States into a net exporter by 2020.
In the High Oil Price case, higher crude oil prices also result in higher petroleum product prices and lower consumption of petroleum products, driving decreases in net petroleum imports.
Similarly, in the High Oil and Gas Resource and Technology case, with more favorable assumptions for geology and technological developments, the United States becomes a net exporter in 2020, and net exports increase through 2050.
However, in cases with relatively low oil prices or less favorable assumptions for geology and technological developments, U.S. net energy trade still decreases, but the country remains a net energy importer through 2050.
U.S. net petroleum trade - crude oil, petroleum products, and natural gas plant liquids - has fallen in recent years, reaching 3.8 million barrels per day in 2017 based on data through November.
Net petroleum imports vary significantly across price and resource cases as domestic crude oil production shifts. By 2030, net petroleum trade ranges from exporting 5.3 million barrels per day in the High Oil Price case to importing 4.6 million barrels per day in the Low Oil Price case.
Editor:Amber
