ABSTRACT

U.S. Energy: Overview and Key Statistics [April 4, 2011]   [open pdf - 328KB]

"Energy supplies and prices are major economic factors in the United States, and energy markets are volatile and unpredictable. Thus, energy policy has been a recurring issue for Congress since the first major crisis in the 1970s. As an aid in policy making, this report presents a current and historical view of the supply and consumption of various forms of energy. The historical trends show petroleum as the major source of energy, rising from about 38% in 1950 to 45% in 1975, then declining to about 40% in response to the energy crisis of the 1970s. Significantly, the transportation sector has been and continues to be almost completely dependent on petroleum, mostly gasoline. The importance of this dependence on the volatile world oil market was revealed over the past five years as perceptions of impending inability of the industry to meet increasing world demand led to relentless increases in the prices of oil and gasoline. With the downturn in the world economy and a consequent decline in consumption, prices collapsed, but then recovered to a much higher level than in the 1990s. As the world economy showed signs of recovery upward pressure on oil prices began to appear again. With the crisis in Libya and other Arab nations in the Spring of 2011, oil and gasoline prices began again to approach their former peak levels. Natural gas followed a long-term pattern of consumption similar to that of oil, at a lower level. Its share of total energy increased from about 17% in 1950 to more than 30% in 1970, then declined to about 20%. Recent development of large deposits of shale gas have increased the outlook for natural gas consumption in the near future. Consumption of coal in 1950 was 35% of the total, almost equal to oil, but it declined to about 20% a decade later and has remained at about that proportion since then. Coal currently is used almost exclusively for electric power generation, and its contribution to increased production of carbon dioxide has made its use controversial in light of concerns about global climate change."

Report Number:
CRS Report for Congress, R40187
Author:
Publisher:
Date:
2011-04-04
Series:
Copyright:
Public Domain
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Via E-mail
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pdf
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application/pdf
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