One victim of the 2014 oil price collapse is the concept of America’s Energy Dependence. In 2010 many experts were predicting the shale oil and gas “revolution” could lead to U.S. energy independence by 2020. The current reality is that Energy Independence is dead. Suzanne Minter, an oil and gas analyst at Platts Analytics said in an interview with CNBC news, “I don’t know it it’s physically possible for us to ever get to a point where we don’t need to import certain types of crude. It’s’ about quality.” The U.S. still needs to bring in crude oil to blend in American refineries. February 2016 data shows that U.S. produced 9.2 million barrels per day, but continued to import 7.3 million barrels of oil the same month.
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