U.S. regular retail gasoline prices averaged $2.14 per gallon (gal) in 2016, 29 cents/gal (12%) less than in 2015 and the lowest annual average price since 2004. Lower crude oil prices in 2015 were the main cause of lower gasoline prices.
According to the US Energy Information Administration's Annual Energy Outlook 2017, the US will become a net energy exporter in most cases as petroleum liquid imports fall and natural gas exports rise.
As veterans, we know that some of our brothers and sisters in uniform struggle to find purpose or a new career after their separation from the military. The fact is that veterans have the skills and background necessary to do these jobs... We can hit both proverbial birds with this infrastructure improvement stone.
The United States is the world's largest consumer of oil, using more than 19.4 million barrels a day in 2015. This high level of consumption wouldn't be possible without the 2.5 million mile network of pipeline used to transport the fuel from its source to the market.
President Barack Obama on Tuesday (Dec. 20) designated the bulk of U.S.-owned waters in the Arctic Ocean and certain areas in the Atlantic Ocean as indefinitely off limits to future oil and gas leasing.
Global population growth of nearly 2 billion, a doubling of worldwide economic output and rapid expansion of the middle class in emerging economies are all expected to contribute to energy demand growth of about 25 percent from 2015 to 2040, according to ExxonMobil's 2017 Outlook for Energy: A View to 2040.