Summary of Diminishing Dependence

Shrinking US Oil Imports

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Diminishing Dependence summary
The United States’ oil dependence peaked in 2005 and has diminished since 2008. What caused the swing, and which trends will emerge?

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8 Overall

7 Importance

7 Innovation

9 Style

Recommendation

Peaking in 2005, the United States’ dependence on oil imports has plunged since 2008, thanks to rising domestic supplies and falling domestic demand. This shifting trend is sending ripples across the global energy sector. The Economist Intelligence Unit’s analysis doesn’t merely check the tires of the energy market vehicle; it gets under the hood to examine the engine of change that is driving America’s dynamic oil industry. getAbstract recommends this report to energy investors and to US policy makers who need to plan for America’s future energy needs.

In this summary, you will learn

  • How the United States drastically cut its dependence on foreign oil
  • Why the US will continue to import huge quantities
  • What implications recent US oil trends carry
 

Summary

The United States, which expends 20% of all oil produced, is the world’s largest oil consumer. However, US dependence on imported oil has plunged since 2008. At its peak in 2005, net oil import dependence, derived by comparing America’s total oil imports with demand, stood at 60.3%. By the first half...
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The Economist Intelligence Unit is an independent research and analytics organization.


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