US Chamber: United States in 2019 most energy secure since 1970

The United States in 2019 was the most energy secure it has been since 1970, according to the 2020 edition of the annual Index of U.S. Energy Security Risk.

The index, which covers 1970 to 2019 and includes a forecast out to 2040, was published by the U.S. Chamber of Commerce’s Global Energy Institute. The index measures energy security based on 37 metrics across a range of geopolitical, economic, reliability, and environmental risk factors.

“This year’s index shows that, prior to the COVID-19 pandemic, U.S. energy security was in the best position it’s been during the last 50 years,” said Marty Durbin, president of the U.S. Chamber’s Global Energy Institute. “Since 2011, we’ve gone from importing nearly a fifth of our energy supply to producing slightly more energy than we consume overall, all while keeping prices low and emissions in check.”

The significant increase in domestic energy production from U.S. shale resources, such as the Marcellus and Utica shales in the Appalachian Basin, is the primary cause of the dramatically improved security position of the country, especially in areas related to imports, prices, and environment. Greater efficiency also played a role, the report showed.

“This progress wouldn’t have been possible without the innovative technologies, notably hydraulic fracturing, that continue to revolutionize domestic energy production,” Durbin said. “The response to COVID-19 will present enormous challenges in the coming years, but we expect the U.S. energy sector to remain strong and resilient.”

In 2011, the U.S. risk score peaked at 100.9, reflecting poor energy security. In the eight years since, the U.S. risk score has dropped 30 percent to 70.1. Forecasts before the COVID-19 pandemic showed consistently low energy security risks for the next 20 years.