US agency points to sea change in US imports, exports

The United States is poised to become a net energy exporter in the next 10 years, a complete reversal of the importer role it has played for the past 60-plus years, the U.S. Energy Information Administration said recently.

The United States has become the world’s top producer of oil and natural gas since 2012, and with its drastic reduction in imports and increased use of fracking technology, the country is expected to be a major player in exports by 2026.

The Institute for 21st Century Energy says that U.S. energy imports have declined from 30 percent of overall demand in 2005 to 10 percent today. This drastic drop comes from the high amount of fracking and drilling taking place in the United States.

The current technology allows drilling companies to retract the liquids from deep below the surface on our own soil in a safe manner, the EIA said.