Scott Rasmussen's Number of the Day for February 15, 2018
The Number of the Day columns published on Ballotpedia reflect the views of the author.
February 15, 2018: The U.S. Energy Information Administration (EIA) 2018 report suggests that the United States will become a net exporter of energy within four years—by 2022. It might happen even sooner.[1]
This is a significant change since the U.S. has been a net importer of energy since 1953. "The United States energy system continues to undergo an incredible transformation," said EIA Administrator Linda Capuano. "This is most obvious when one considers that the AEO [Annual Energy Outlook] shows the United States becoming a net exporter of energy during the projection period.” That’s “a very different set of expectations than we imagined even five or ten years ago."
The Arab oil embargoes of the 1970s shocked Americans and made many fearful of our dependence upon foreign oil. In the decades following that shock, many American political leaders called for increased conservation to reduce the demand for energy. Others called for direct federal government efforts to wean the nation off oil. Former President Barack Obama reflected the views of many when he said we could not “drill our way to lower gas prices.”[2]
However, the EIA study indicates that the development of American shale oil resources through fracking was the driving factor in ending the U.S. reliance on imported energy. And the impact on oil prices has been dramatic. Last year, Royal Dutch Shell told investors that it expects oil prices to be "lower forever."
A Heritage Foundation report stated that “the doubling of U.S. oil production between 2008 and 2015 is an amazing story of American ingenuity, persistence, and, of course, drilling.”[3]
The EIA study noted that increased energy efficiency also tempered growth in energy demand.
Each weekday, Scott Rasmussen’s Number of the Day explores interesting and newsworthy topics at the intersection of culture, politics, and technology.
- February 14, 2018 – 58 million pounds of chocolate candy purchased during Valentine’s Day week
- February 13, 2018 – 45 House Republicans have raised less money than their challengers
- February 12, 2018 – 296 billion dollar spending increase approved by Congress
- February 9, 2018 – 12% of Americans are culture warriors
- February 8, 2018 – 86% of people in struggling neighborhoods respect their local police
- To see other recent numbers, check out the archive.
Scott Rasmussen’s Number of the Day is published by Ballotpedia weekdays at 8:00 a.m. Eastern. Click here to check out the latest update.
The Number of the Day is broadcast on local stations across the country. An archive of these broadcasts can be found here.
Columns published on Ballotpedia reflect the views of the author.
Ballotpedia is the nonprofit, nonpartisan Encyclopedia of American Politics.
See also
Footnotes
- ↑ U.S. Energy Information Administration, "Robust energy production growth coupled with relatively flat U.S. demand support net energy exports in EIA’s AEO2018," February 6, 2018
- ↑ CNS News, "Obama: ‘We Can’t Drill Our Way to Lower Gas Prices’ – Experts: ‘Yes We Can,'" October 26, 2016
- ↑ The Heritage Foundation, "Time to Unlock America’s Vast Oil and Gas Resources," September 1, 2016
| |||||||||||||||||||||||
