WASHINGTON, D.C. —The United States in 2019 was the most energy secure it has been since 1970 according to data in the 2020 edition of the annual Index of U.S. Energy Security Risk published by the U.S. Chamber of Commerce’s Global Energy Institute.
Covering 1970 to 2019, and including a forecast out to 2040, the Index measures energy security based on 37 different metrics across a broad range of geopolitical, economic, reliability, and environmental risk factors—with higher scores indicating increased risk. In the eight years since the U.S. risk score peaked at 100.9 in 2011— meaning poor energy security—it has plunged 30.7 points (30%) to 70.1 in 2019, an unprecedented rate of progress.
The tremendous increase in domestic energy production from U.S. shale resources—driven by the use of advanced hydraulic fracturing, horizontal drilling, and seismic imaging technologies—is the primary cause of the dramatically-improved security posture, especially in areas related to imports, prices, and the environment. Greater efficiency also played a role.
Looking to the future, forecasts before the COVID-19 pandemic indicate consistently low energy security risks out to 2040.
“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.
“This progress wouldn’t have been possible without the innovative technologies, notably hydraulic fracturing, that continue to revolutionize domestic energy production. 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.”
To read the full report, and learn more about the methodology used to develop this Index, visit our website.