In October 1974, in the wake of the 1973 Oil Embargo, the Federal Energy Administration—the predecessor of the U.S. Department of Energy—published the first issue of the Monthly Energy Review (MER), an overview of the energy produced and consumed in the United States.
In the 50 years since that first publication, the U.S. energy sector has transformed.
In 1974, the United States consumed more energy than it produced domestically and was a net importer of energy from other countries. Today, the United States produces more energy than it consumes domestically and is a net exporter of energy to other countries.
U.S. energy production has increased faster than energy consumption over the past 50 years
Data source: U.S. Energy Information Administration, Monthly Energy Review
Note: Positive net imports mean the United States imported more energy than it exported, while negative net imports mean the United States exported more energy than it imported. Data are for the first seven months of 1974 and 2024. Total energy includes coal, natural gas, petroleum, nuclear, and renewables. See primary energy consumption in the EIA Glossary.
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.
U.S. energy consumption has increased steadily since 1974, although total consumption growth is less than total production growth. Between January and July 2024, U.S. energy consumption was 32%, or 13.2 quads, more than the same period in 1974. Consumption growth is due to several factors including population growth and increased economic activity. However, primary energy consumption has generally decreased on both a per capita basis and in terms of energy consumed per dollar of GDP since the 1970s. Increased energy efficiency has contributed to these decreases.
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.
U.S. energy production has increased faster than energy consumption over the past 50 years
Data source: U.S. Energy Information Administration, Monthly Energy Review
Evolution of data collection
The MER, which predates the establishment of the U.S. Department of Energy in 1977, was first published by the Federal Energy Administration. The MER has grown from 22 tables and 55 graphs in its first issue to 101 tables and 182 graphs in the October 2024 publication. Recent data additions include electric vehicle stocks and electricity use, electricity net summer capacity and capacity factors, and a new total energy flow diagram.
U.S. energy production has increased faster than energy consumption over the past 50 years
Data source: U.S. Energy Information Administration, Monthly Energy Review
