Oil imports to the U.S. have shifted dramatically over 15 years

Oil imports to the U.S. have shifted dramatically over 15 years

While green energy is making inroads particularly at the electrical grid, the majority of energy in the United States is still consumed by the industrial and transportation sectors. Today, it’s still true that about 90% of all energy used for transportation comes from petroleum products such as gasoline, diesel, or jet fuel.

This means that oil is the undeniable 800-pound gorilla in the energy mix for now, and that’s why it still accounts for 35% of all energy consumed in the United States.

Throughout the last 50 years, America’s heavy dependence on oil has always created unique political and economic pressures, especially when that oil couldn’t be produced domestically. As we witnessed in the 1970s, untimely oil price shocks can rattle an entire economy, and control over oil production ultimately translated into leverage for foreign organizations like Opec, and countries such as Venezuela, Iran, or Saudi Arabia.

 

 

Courtesy of: Visual Capitalist

 

Source: Visual Capitalist

Date: May 2016

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