US Set To Become Net Importer Of Oil Despite Vast Resources Thomas Catenacci
Energy & Environment Reporter
February 18, 2022 11:12 AM ET
The U.S. is projected to become a net importer of crude oil in 2022, just two years after the nation achieved net exporter status, according to government data.
The country will import more crude oil than it will export, signaling lower domestic production of the commodity, according to an Energy Information Administration (EIA) report Friday. In 2020, the U.S. exported more petroleum than it imported for the first time in several decades.
“In 2021, the United States returned to importing more petroleum (which includes crude oil, refined petroleum products, and other liquids) than it exports following its historic shift to being a net exporter of petroleum in 2020,” the EIA said. “According to our February 2022 Short-Term Energy Outlook (STEO), we expect net crude oil imports to increase, making the United States a net importer of petroleum in 2022.”
“Historically, the United States has been a net importer of petroleum,” the EIA report continued.
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https://dailycaller.com/2022/02/18/united-states-energy-crude-oil-imports-joe-biden/
