First balance in U.S. energy imports and exports since '50s

The U.S. Energy Information Administration (EIA) recently released its Annual Energy Outlook 2015 (AEO2015) that shows the energy imports and exports in the United States have reached a balance for the first time since the 1950s.

Experts attribute this balance to the slow growth for energy demand, and the continued growth for natural gas and oil production in the U.S.

"EIA's AEO2015 shows that the advanced technologies are reshaping the U.S. energy economy," Adam Sieminski, EIA administrator, said. "With continued growth in oil and natural gas production, growth in the use of renewables, and the application of demand-side efficiencies, the projections show the potential to eliminate net U.S. energy imports in the 2020 to 2030 timeframe. The United States has been a net importer of energy since the 1950s. In cases with the highest supply and lowest demand outlooks, the United States becomes a significant net exporter of energy.”

The AEO2015 uses data to project estimates about the U.S. energy markets. AEO2015 estimates the market through to 2040. The data is pulled from six different cases: Reference, Low and High Economic Growth, High Oil and Gas Resource, and Low and High Oil Price. These estimates include potential scenarios about the future prices for crude oils.