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Home / Reports / 2023 State of the Union / Energy

Energy

The US exported about 30% more energy than it imported in 2022.

Russia's invasion of Ukraine in February 2022 disrupted energy markets, leading to a lower supply of crude oil (the US’ largest energy import) from Russia and higher US petroleum product exports (its largest energy export) to Europe. America imported 84% more crude than it exported in 2022. However, the crude oil trade deficit has fallen since 2010, when the nation brought in more than 200 times as much crude oil as it shipped out.

Energy

Average prices for a gallon of regular-grade gas rose from $3.45 in January 2022 to $4.87 in June — the highest level since September 2012, after adjusting for inflation.

Average gas prices declined in subsequent months, falling to $3.62 by November. However, average diesel fuel prices in November remained more than a dollar higher than in January. Several factors affect fuel prices, including crude oil prices, the cost of refining, distribution, and marketing.

Energy

Energy consumption per person increased for the second year after dipping in 2020.

However, per-person energy consumption in 2022 was still 1% lower than the 2010s average.

Energy

About 68% of energy consumption is from petroleum or natural gas, while renewable and nuclear sources account for 20%.

Coal is 11% of energy consumption. Two-thirds of fossil fuel energy consumption comes from the industrial and transportation sectors.

Energy

Coal production has declined since 2010. Natural gas and crude oil production are growing.

US fossil fuel production increased from 2021 to 2022.

Energy

Nuclear energy production, the nation’s leading non-fossil fuel energy source since 1984, has remained flat for two decades. Solar and wind energy are growing.

In 2019, wind energy became the nation’s third most-produced source of non-fossil fuel energy after nuclear and biomass.

Energy

Carbon dioxide emissions from energy consumption rose in 2021 and 2022 after dropping in 2020.

However, carbon dioxide emissions remain below 2019 levels. Last year’s increase was primarily due to petroleum and natural gas emissions.

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