The US transitioned from net imports to net exports in 2010 and has been able to sustained that trend. Increased domestic production and greater vehicle efficiency have supported this move and should continue to do so for years to come. Currently, net exports expanded to a record 920,000 barrels per day in September (the latest data from the Department of Energy).
Moreover, Citigroup, Inc. recently released a statement noting that "U.S. net exports of oil products such as diesel will more than double in the next decade from record levels as slowing domestic consumption cuts the nation’s dependence on foreign energy."
Source:
Bloomberg
