Total US net imports of energy, measured in terms of energy content, declined 19% from 2012 to 2013, hitting the lowest level in more than 20 years, according to the US Energy Information Administration.
“Growth in the production of oil and natural gas displaced imports and supported increased petroleum product exports, driving most of the decline,” EIA said.
Virtually, the decline was a result of a large drop in energy imports together with a smaller increase in energy exports. Total energy imports declined 9% from 2012 to 2013, faster than in the previous year, while export growth slowed.
“Crude oil production grew 15%, about the same pace as in 2012, which led imports of crude oil to decrease by 12%, accounting for much of the overall decline in imports,” EIA added.
According to preliminary 2013 data now available in the EIA’s Monthly Energy Review, total US primary energy consumption increased 2.4% after declining in 2011 and 2012, with renewable energy providing the largest percentage increase. Primary energy consumption increased in all end-use sectors. Residential sector consumption rose the most, and transportation sector consumption increased the least.