Energy imports drop to 29-year low

Net energy imports to the United States fell to their lowest point in 29 years in the first half of this year when compared to energy consumption.

The figure serves as a sign of the United States’ increasing energy independence and its ability to supply more of the energy it consumes.

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Net imports fell 17 percent when compared with the first half of 2013, the Energy Information Administration (EIA) said Friday.

Meanwhile, energy consumption grew 3 percent in the period but was dramatically outpaced by an increase in energy production, leading to the nearly three-decade record.

Total net imports of energy in 2014’s first six months, or imports minus exports, fell to 5.43 quadrillion British thermal units, from 6.55 quadrillion the year prior.

Consumption, meanwhile, grew to 49.7 quadrillion British thermal units, an increase over the same period for the previous two years, which EIA attributed to the bitter cold winter, since the bulk of the increases were in January and February.