From the NCPA:
The United States is on the path to becoming energy independent in the next few decades. Indeed, the International Energy Agency (IEA) projects that U.S. oil production will exceed Saudi Arabia’s production by 2020. It further projects that the United States will be energy independent by 2035, says Desmond Lachman, a resident scholar at the American Enterprise Institute.
- Since 2008, U.S. oil production has increased around 25 percent.
- Because of this, oil imports only make up 42 percent of overall oil consumption, compared to 60 percent in 2005.
- The United States is expected to increase oil production to over 11 million barrels a day by 2020.
- As a result, oil imports will decline to 4 million a day.