U.S. Energy Independence: Opportunities and Limitations

Abstract

Climate change, the shale revolution, which allowed the United States to become a key exporter in international oil and gas markets, along with the introduction of renewable energy sources to replace traditional energy resources, are new integral factors in U.S. energy policy and influence its changes. The introduction of new technologies in the energy sector has given the United States the opportunity to increase oil and gas production, reduce its dependence on imports of hydrocarbon resources, and increase their exports. D. Trump's energy policy aimed for global energy dominance of the United States by increasing oil and gas production and exporting hydrocarbon resources to the EU and other regions of the world. On the one hand, allows us to conclude about the energy independence of the United States. However, on the other hand, the analysis of the debate about U.S. energy independence shows two different approaches to understanding the concept. The first approach follows from the fact that a state is energy independent if its energy system produces more than enough energy for its needs. The second suggests that the state does not import any energy at all. The author concludes that, today, the United States has technological and financial advantages that allow it to influence the global energy market. However, in the near future, the United States will not be able to become an energy independent state – that is to abandon oil and gas, despite the use of renewable energy sources. The U.S. energy industry is closely interconnected with the rest of the world: some energy resources still come from external international markets, and America is deeply integrated into the global economy, where the price of hydrocarbon resources is set on the international market. In conditions of mutual dependence, trade links many countries together and no single oil supplier can easily ensure compliance with their own interests or dictate the terms of trade. Nevertheless, interdependence and mutual interests of all actors in the energy market are able to help strengthen the energy security of a state.