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Home / Reports / State of the Union / Energy

Energy

In 2022, the US exported about 27.1% more energy than it imported.

Despite an overall energy trade surplus, America imported 86.8% more crude oil than it exported in 2022. However, the crude oil trade deficit has fallen since its peak in 2006, when the nation brought in more than 400 times as much crude oil as it shipped out.

Energy

Average prices for a gallon of regular-grade gas fluctuated between $3.29 and $3.81 in 2023 after reaching nearly $6 in June 2022.

However, 2023’s peak average monthly price —$3.81 in August —was higher than any month between November 2014 and February 2022. Several factors affect fuel prices, including crude oil prices, the cost of oil refining, distribution, and marketing.

Energy

Average energy consumption per person, as measured by a 12-month average, has trended downward since 2000.

Although average per-person energy consumption has increased since a record low in February 2021, it remains lower than any 12-month average before the pandemic.

Energy

Petroleum and natural gas sources accounted for 72% of energy consumed in the US in 2022, while renewable and nuclear sources accounted for 17%. Coal was 10% of energy consumption.

The industrial and transportation sectors were responsible for two-thirds of all fossil fuel energy consumption in 2022.

Energy

Coal was the most common fossil fuel produced in the United States from the late 1980s until April 2011*; since then, average monthly coal production has dropped 47%.

During that time, natural gas and crude oil production increased 75% and 127%.
*(As measured by a 12-month rolling average)

Energy

Nuclear energy production, the nation’s leading non-fossil fuel energy source since the mid-1970s, has remained flat for more than two decades.

It accounted for 49% of average monthly non-fossil fuel energy production in October 2023 (as measured by a 12-month average of November 2022 to October 2023). Solar energy production surpassed hydroelectric in 2023.

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