Fracking Has Made All the Difference and Those Who Despise America Know It

Exports are the key to everything economically, and from a foreign policy perspective, for America. Absent exports, we lose leverage with both adversaries and allies. Free trade is essential to any great economy but the only way to ensure it’s also fair trade is by negotiating from the strength exports give us. Nothing has been more important in that regard than our oil and gas exports and the EIA just put out this chart showing how we’re doing:

The sharp reversal in trend began about 2010 when fracking became the conventional method for well development. And, now we’re here:

In 1974, the United States consumed more energy than it produced domestically and was a net importer of energy from other countries. Today, the United States produces more energy than it consumes domestically and is a net exporter of energy to other countries.

Between January and July 2024—the most recent data available—total U.S. energy production was 68%, or 24.0 quadrillion British thermal units (quads), more than the same period in 1974. Increased crude oil and natural gas production, brought about by improvements in drilling techniques such as hydraulic fracturing and horizontal drilling beginning in the 2000s, drove much of the growth in total energy production.

U.S. energy consumption has increased steadily since 1974, although total consumption growth is less than total production growth. Between January and July 2024, U.S. energy consumption was 32%, or 13.2 quads, more than the same period in 1974. Consumption growth is due to several factors including population growth and increased economic activity. However, primary energy consumption has generally decreased on both a per capita basis and in terms of energy consumed per dollar of GDP since the 1970s. Increased energy efficiency has contributed to these decreases.

The increase in energy production over the last two decades has turned the United States into the world’s largest crude oil and natural gas producer today and from a net energy importer to a net energy exporter starting in 2019. U.S. net energy imports in the first seven months of 1974 were about 6.8 quads. The United States exported a net total of about 5.0 quads during the same period in 2024. The main driver of this shift has been growing exports of crude oil and petroleum products and liquefied natural gas (LNG) over the last 15 years.

It’s a beautiful thing and the folks who still oppose it are more interested in crushing America as we know it because they not so secretly despise capitalism in all its forms and want something much different.

#CrudeOil #NaturalGas #Exports #Fracking