COLUMN: Bright future for energy supplies
20.05.12
There are several reasons for optimism about our energy situation as we kick off 2012.
Americans have been fearful of a repeat of fuel shortages and economic disruptions ever since the 1970s when the Arab nations cut off oil supplies. And with good reason.... until recently, our oil imports from countries which did not like us grew rapidly, making us even more vulnerable. Many Americans are not aware this situation is changing – for the better.
The first reason for optimism is that our petroleum energy imports have dropped significantly from their all time high in 2005, when we imported 60 percent of our demand. During 2010, we imported only 49 percent - a stunning drop after four decades of continuous growth (2011 numbers are not out yet, but early reports show the trend continuing).
This decline started before our economy got gut punched in 2008. Of the 11 percent decline since 2005, it is estimated that about half is due to increasing energy conservation efforts, fuel efficient cars and so forth, and the balance due to the poor economy.
Source: Concord Independent Tribune