This US energy update was power by data from my firm Avory Research.
The chart highlights the shrinking energy trade deficit, the drop in solar prices, and the increase of total US crude production.
The US energy trade deficit is nearing zero as U.S. production of crude oil, coupled with falling solar prices, have made the US less reliant on external suppliers.
The upward trend has been consistent since 2008 (see the chart) and nearing steady levels not seen since the early 1990’s. Despite cost advantages in solar and advances in wind power, the future of energy is likely to contain a mix of all of these power sources.
As of today, it remains challenging to power all forms of energy demand via solar and wind. However, various infrastructures today use both. Regulations remain a challenge as state and local utility companies are challenging the transitions as we have recently seen in Nevada for solar.
Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.