CRAK - U.S. Targets Energy Independence Despite COVID-19 Impacts
US energy independence has long been a key goal for policymakers and oil and gas companies alike. Rapid growth in domestic oil and natural gas production, which have increased by 8.6% and 4.6% annually through the 2010s, respectively, has brought the US close to achieving that goal. While COVID-19's impact on global energy demand and domestic oil production has likely disrupted progress towards consistent net exports, the US remains on the path to attaining energy independence. Ahead of Independence Day this weekend, today's note examines the US's role as a major energy exporter before and