2015 energy security risk level lowest since 1996, U.S. Chamber of Commerce report says
“The outlook for U.S. energy security is as bright as it has been since we started measuring it back in 2011," the institute said in its report. "While it is never safe to bet against America’s entrepreneurs, one should also never take a bright energy future for granted either.”
The institute notes that energy security risks were at their highest levels in 2011 and have fallen every year since, a trend yhat continued in 2015. The risk index for last year reached 77.9, the lowest score achieved since 1996.
The institute attributes the low sore to the renewed domestic production of oil and natural gas from shale formations through processes such as hydraulic fracturing, horizontal drilling and advanced seismic imaging. According to the report, this increased production has led to economic benefits throughout the country in the form of reduced imports and an improved balance of trade, in turn creating good-paying jobs as well as reduced energy prices and expenditures.