It’s not often you hear a former major oil company executive speak despairingly about oil and gasoline, but that’s exactly what John Hofmeister has been doing with his time since leaving Shell. He is not anti-fossil fuels, however, and sees great promise for natural gas as an oil substitute in the transportation sector. Hofmeister has… Keep reading →
US dependence on imported crude oil is expected to drop to 41% this year, but it could drop even faster, and even to zero, says Adam Sieminski, Administrator of the Energy Information Administration.
EIA’s forecast is a substantial reduction even from 2011, when imports met 45% of US demand, and way below the record year of 2005 when the US imported 60%. Analysts agree that discoveries of new US resources, improvements in US auto fuel economy, and lower overall demand due to the recession have combined to reduce the need for imports. Keep reading →
