February 12, 2012

USA Top Energy Producer by 2020

USA top energy producer by 2020.

Bloomberg with EIA’s data has compiled some interesting stats regarding USA as an energy producer.

Per Bloomberg
Domestic oil output is the highest in eight years. The U.S. is producing so much natural gas that, where the government warned four years ago of a critical need to boost imports, it now may approve an export terminal.

The U.S. has reversed a two-decade-long decline in energy independence, increasing the proportion of demand met from domestic sources over the last six years to an estimated 81 percent through the first 10 months of 2011, according to data compiled by Bloomberg from the U.S. Department of Energy

The transformation, which could see the country become the world’s top energy producer by 2020
Some companies are hurting from the shale gas glut. With abundant supplies making it the cheapest option for new power generation, Exelon Corp. (EXC) scrapped plans to expand capacity at two nuclear plants, while Michigan utility CMS Energy Corp. (CMS) canceled a $2 billion coal plant after deciding it wasn’t financially viable. NextEra Energy Inc. (NEE), the largest U.S. wind energy producer, shelved plans for new U.S. wind projects next year.

Tags: USA top energy producer, USA energy production stats, USA shale gas production, USA oil production, USA energy independence, USA positive supply shock