U.S. oil and gas production is reshaping global politics
A Net Importer Becomes A Net Exporter
U.S. Net Imports of Crude Oil & Petroleum Products
U.S. Crude Oil Production
U.S. crude oil production reached a record 11.9 million b/d in March 2019, and is projected to increase through 2020.
U.S. Crude Oil Exports
The United States exported 27,000 b/d of crude oil in 2007. In 2017, that figure has increased to roughly 1.16 million b/d, and exports are expected to reach nearly 3.9 million b/d by 2020.
The whole transformation has put us back into a role to help define the policy of global energy production and not just as a consumer.
George David Banks, former energy adviser for the Trump Administration
By 2025, U.S. oil production is expected to equal that of Saudi Arabia and Russia combined, according to the International Energy Agency (IEA).
The United States has been a net exporter of natural gas for over 13 consecutive months between February 2018 and February 2019.
Forecasts show America will export more energy – including oil , natural gas and other petroleum products – than it imports by 2020.
“On national security grounds, while the United States still faces significant energy vulnerabilities, is is arguably more energy secure today than it was a decade ago because of the oil and gas supply abundance within the U.S. border.”
Sarah Ladislaw, Director and Senior Fellow, Energy and National Security Program at the Center for Strategic and International Studies
“This is a 180-degree turn for the United States and the impacts are being felt around the world. This not only contributes to U.S. energy security but also contributes to world energy security by bringing new supplies to the world.”
Daniel Yergin, Economic Historian and Author, New York Times
“We should no longer allow the Kremlin to use energy as a weapon.. This [deal] is a signal across Europe that this is how your energy future can be developed, the security of the country, the diversity of supply – this is a great day for Europe.”
Rick Perry, U.S. Secretary of Energy, at a signing ceremony in Wasaw with Polish President Andrej Duda
In 2017, U.S. exports to Mexico of crude oil and petroleum products reached an all-time high of over 394 million barrels.
U.S. natural gas exports to Canada have steadily risen since 2000, and today U.S. natural gas comprises 20% of Canadian consumption.
The Energy Information Administration (EIA) called Canada a “key energy trade partner” for the United States.
Mexico is a substantial consumer of U.S. natural gas, accounting for 1.68 billion cubic feet (or roughly 66%) of U.S. exports by pipeline in 2018.
Mexico purchases 22% of all U.S. petroleum product exports. In 2018, Mexico received over 1.2 million b/d of U.S. petroleum products valued at more than $30 billion.