American net energy imports declined in 2017

The Energy Information Administration (EIA) released information this week showing that American net energy imports declined in 2017, attaining its lowest level lowest level since 1982.

Officials said gross energy imports have been generally decreasing from a high of 34.7 quads in 2007, adding the larger factor leading to the reduction in the net energy trade balance has been increasing energy exports.

The EIA said gross energy exports rose to 18.0 quadrillion Btu in 2017, a 27 percent increase from 2016 and the highest annual American energy exports on record.

Last year, the United States saw substantial increases in exports of all fossil fuels, with exports of crude oil, petroleum products, natural gas, and coal all increasing over the prior year.

Exports of crude oil and petroleum products both reached record levels, per EIA officials, as petroleum products such as gasoline, distillate fuel, propane, and other fuels currently make up the largest share of U.S. energy exports at 54 percent.

Statistics showed an increase in total American energy production contributed to the decline in net imports in 2017, led by production increases in renewable energy, especially hydropower and wind, as well as production increases in coal, natural gas plant liquids, crude oil and natural gas.

Officials said total U.S. energy consumption was virtually unchanged from the previous year’s level.