From Carpe Diem:
Here are three charts based on the new Annual Energy Outlook 2013 from the U.S. Department of Energy:
1. The first chart shows that the U.S. is expected to produce domestically almost 83% of the energy consumed this year, which will be the highest level of energy self-sufficiency since 1991, more than two decades ago.
For a quarter century, U.S. energy production as a share of domestic energy consumed was on a gradual decline, falling from a peak production share of more than 91% of the energy consumed in 1982 to below a 70% share by 2005.
But then hydraulic fracturing, horizontal drilling, and the shale revolution happened and dramatically changed the course of U.S. energy production for the 21st century.
Starting around 2008, advanced drilling technologies started accessing trapped hydrocarbons in shale rock and U.S. energy production started surging – to an all-time record-high this year for natural gas and to a 14-year high in 2012 for domestic crude oil.
The new upward trend in energy self-sufficiency is expected to continue for at least the next three decades, and by 2033, America's own domestically produced energy will provide more than 90% of the total energy consumed...
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