Is the US a net exporter of energy?

The U.S. is a net exporter of energy, meaning it exports more than it imports. That said, the U.S. imports some energy, with imports of crude oil, natural gas, electricity, and uranium products helping meet domestic demands.

Why did energy exports and imports grow in 2021?

The growth in the value of U.S. exports and imports of energy-related products in 2021 primarily resulted from increases in both U.S. and global demand and prices for crude petroleum, petroleum products, and natural gas and components.

What percentage of US energy imports are petroleum products?

In 2023, imports of petroleum products (such as gasoline and distillates) accounted for about 18% of total annual U.S. energy imports and for about 36% of total energy exports. Total petroleum product imports were slightly lower, exports were slightly higher, and net imports were the lowest on record in 2023.

What is the market share of energy storage in 2024?

By technology, batteries led with 82% of the United States energy storage market share in 2024, while hydrogen storage is projected to expand at a 28.5% CAGR through 2030.

Where do energy imports come from?

These imports come from a variety of trading partners across the globe, including Canada, Mexico, Saudi Arabia, Iraq, and Colombia. The United States is a major global energy provider. Its energy exports help balance the country’s trade deficit and fill gaps in international energy demands.

What role does energy play in the US economy?

Energy plays a central role in shaping the U.S. economy, with imports and exports of oil, natural gas, and refined products influencing trade balances, industry growth, and geopolitical strategy. While the U.S. remains one of the world’s largest energy producers, it continues to import some energy products to meet domestic energy use demand.