EIA noted in a latest update yesterday that the increase in energy production over the last two decades has turned the United States into the world's largest crude oil and natural gas producer today and from a net energy importer to a net energy exporter starting in 2019. U.S. net energy imports in the first seven months of 1974 were about 6.8 quads. The United States exported a net total of about 5.0 quads during the same period in 2024. The main driver of this shift has been growing exports of crude oil and petroleum products and liquefied natural gas (LNG) over the last 15 years. Between January and July 2024'the most recent data available'total U.S. energy production was 68%, or 24.0 quadrillion British thermal units (quads), more than the same period in 1974. Increased crude oil and natural gas production, brought about by improvements in drilling techniques such as hydraulic fracturing and horizontal drilling beginning in the 2000s, drove much of the growth in total energy production.

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