Gasoline Prices Spike As Crude Oil Prices Surge

This question has been dissected in many ways by analysts, politicians, business leaders and countless other stakeholders, with numerous conclusions drawn. Clearly the term “energy independence” can be defined many ways. In terms of power generation, the country already is energy independent. But US petroleum import volumes usually lie at the heart of this question and present a much more stubborn challenge to those who want to see the country self-sufficient in that regard.

This study by the Fuel Freedom Foundation analyzes the US energy independence question from both BTU and dollar perspectives, meaning can the US produce all the energy it consumes and/or reduce energy imports to zero? The study – based on EIA data and projections – concludes that both prospects are highly unlikely in the foreseeable future.

Read more Breaking Energy coverage of Fuel Freedom Foundation initiatives here.

The conclusion of the study is that without mass adoption of natural gas and biomass as feedstock for transportation fuels to replace oil, the US and its economy will both be dependent on foreign oil and will be forced comply with the prices set by the oil market. In addition even with the projected increased growth of domestic oil production the total cost of oil import will continue to top $300 billion a year.”


Can the US Become Energy Independent _ Final