U.S Energy Trade Posts First Surplus Since 1970s

Updated: Jul 11

According to a recent blog post from the U.S Energy Information Administration, 2020 was the first time the value of U.S energy exports was greater than U.S energy imports since 1974 (the year the U.S Census Bureau started tracking trade value data).

The U.S energy market is primarily composed of petroleum. In 2020, the U.S petroleum net trade value deficit was only $3 billion, the smallest ever recorded. This is the result of less fuel consumption during the COVID-19 pandemic and associated mitigation efforts. In addition, natural gas grew to make up 22% of the overall value of energy exports last year, contributing to the surplus.

Large-scale adoption of energy efficiency practices in commercial properties has the potential to both decrease imports further and put less strain on our fossil fuel resources. If you are interested in a well-designed and well-implemented energy efficiency program for your building, contact us at info@360eg.com.