U.S. to export more energy than it imports in 2020

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The United States is expected to continue to develop shale and tight oil and natural gas resources as well as expand its use of renewable resources, according to new projections from the U.S. Energy Information Administration (EIA). The federal agency of the U.S. Department of Energy released its Annual Energy Outlook 2019, and the projections are part of the outlook’s reference case, which includes the effects of existing laws and regulations on the U.S. energy industry.

In 2020, for the first time in almost 70 years, the United States is projected to export more energy than it imports and should remain a net energy exporter through 2050. The growth in exports is expected to be driven by petroleum exports, including crude oil and products, and rising exports of liquefied natural gas. The reference case shows these trends continuing for the next few years before slowing and stabilizing.

Read more: https://talkbusiness.net/2019/01/u-s-to-export-more-energy-than-it-imports-in-2020/

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