72 Percent of USA Oil Needs Met Domestically

Posted in October 28th, 2011
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Here’s a bit of good news: the British newspaper The Telegraph reports that the United States today produces enough oil to satisfy 72% of its domestic needs, versus around 50% ten years ago. This is partly because of increased production, and partly curbed demand due to increasing fuel efficiency of American vehicles. New passenger cars routinely get over 40 miles per gallon; trucks have made particularly impressive strides, doubling their fuel efficiency in only a few years.

The United States has also become the world’s leading producer of natural gas, due to new hydro-fracturing technologies that allow for extraction from shale. While controversial for their environmental impact, these technologies have opened up a very large source of energy that was previously unavailable.

It remains to be seen if this is a temporary advantage, or if this will help the country get back on its feet after the long recession.

Post sponsored by Koons Ford, Maryland Ford Dealer.