Energy Imports Fall to Lowest Level in 29 Years

According to the U.S. Energy Information Administration, 2014 has proven to be a banner year for energy security.

Last week, the federal agency announced that total U.S. net imports of energy as a share of energy consumption fell to their lowest level in 29 years for the first six months of 2014.

Total energy consumption in the first six months of 2014 was 3% above consumption during the first six months of 2013, but consumption growth was outpaced by increases in total energy production. These changes led to a 17% reduction in net imports compared with the first six months of 2013.