US net energy imports in 2017 fall to lowest level since 1982

HOUSTON - Total net energy imports to the United States fell to their lowest level since 1982, according to a report released by the US Energy Information Administration (EIA) on Wednesday.

The report showed that the total net energy imports fell to 7.3 quadrillion British thermal units (Btu) in 2017, or a 35-percent decrease from 2016 and the lowest level since 1982, when both gross imports and gross exports were much lower.

US gross energy imports have been generally decreasing since 2007. However, the larger factor leading to the reduction in the net energy trade balance has been increasing energy exports.

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

Increasing US energy exports have been driven largely by increases in exports of petroleum products and natural gas.

In recent years, exports of crude oil have also contributed to the overall rise in energy exports after crude oil export restrictions were lifted at the end of 2015.

In 2017, the United States saw substantial increases in exports of all fossil fuels, with exports of crude oil (89 percent higher than in 2016), petroleum products (11 percent higher), natural gas (36 percent higher), and coal (61 percent higher) all increasing over the prior year.

Exports of crude oil and petroleum products both reached record levels. Petroleum products such as gasoline, distillate fuel, propane, and other fuels currently make up the largest share (54 percent) of US energy exports.

The United States became a net exporter of petroleum products in 2011 and natural gas in 2017. In 2017, the United States was also a net exporter of coal, coal coke, petroleum products and biomass, but remained a net importer of crude oil.

An increase in total US energy production contributed to the decline in net imports in 2017, led by production increases in renewable energy (8 percent), especially hydropower and wind, as well as production increases in coal (6 percent), natural gas plant liquids (6 percent), crude oil (5 percent), and natural gas (1 percent).

Total US energy consumption was virtually unchanged from the previous year's level, according to the report.