Chart of the week

LNG (Liquefied Natural Gas) Trade Lowers U.S. Trade Deficit

In 2016, the first LNG cargos were shipped and growth in U.S.LNG exports has been considerable.


This has made material contributions to narrowing the U.S. trade deficit. According to the EIA, natural gas trade accounted for 5% of U.S. energy import value and 22% of energy export value in 2020; this resulted in an annual surplus of $26 billion.


In August 2022, the monthly U.S. LNG trade surplus peaked at $4.95B. That month the trade deficit was $67B ($261B exports, $328B imports). Without LNG trade, the August 2022 deficit would have been $72B, or 7.5% higher.

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2023 Charts

  1. LNG (Liquefied Natural Gas) Trade Lowers U.S. Trade Deficit

  2. Rising U.S. Transportation Fuel Prices

  3. The Spanish Duck Curve: Evolution of Spain’s August Electricity Generation Resource Mix — 2019-2023

  4. European Energy Security as Measured by Affordability
  5. Net Oil Contributions From the Americas
  6. U.S. Energy Security As Measured by Affordability
  7. U.S. Energy Security as Measured by Import Dependency
  8. U.S. Energy Security as Measured by Efficiency
  9. U.S. Crude Oil Production – Potential Headwinds
  10. The Renewable Diesel Margin– Post-2023 RFS RVO Set Rule

  11. EU (plus Norway and the U.K.) National Fiscal Policy Responses to the Energy Crisis: September 2021 to January 2023

  12. EV Electricity Requirements and EPA’s Challenging Rules

  13. June 2023 Texas Heat Wave and ERCOT Generation

  14. Impact from Canadian Wildfire Smoke On Solar Generation in the Northeastern U.S.

  15. Calculating The Renewable Diesel Margin

  16. Estimating U.S. Biodiesel Costs
  17. Global CO₂ Emissions: What If Only OECD Goes Net Zero by 2050?
  18. Comparing CO2 Emissions per 100 Miles Based on Energy Mix: Gasoline-Powered (ICE – Internal Combustion Engines) vs Battery Electric Vehicles (BEVs)
  19. Dallas Fed Survey: U.S. Crude Oil Production Costs Are Rising
  20. April in Sacramento: More Solar Generation in California Requires More Natural Gas Generation
  21. Western European Near-Term Natural Gas Requirements
  22. U.S. Crude Oil Production by States/Region: LegacyProducers vs Shale/Offshore – the 40-Year View
  23. Canadian Provincial Oil & Natural Gas Production, Related Consumption and Exports
  24. After Extensive Deliberation the National Petroleum Reserve-Alaska (NPR-A) Willow Project Is Set To Yield Revenue for Both the State and the Federal Government
  25. Illinois CO2Emissions from Electricity Production
  26. Crude Oil Production: OPEC Members and U.S. States – How Do They Rank?
  27. Ambition vs. Reality: Share of Renewables in U.S. Primary Energy Demand
  28. Who Emits Most and Least per Dollar of GDP?
  29. Daily Natural Gas Receipts: Jan 2021 to Feb 2023 on the Anniversary of Russia’s Escalation
  30. Lithium – An Upstream View
  31. EU Crude Oil Trade: Shifts due to Russia’s War
  32. ERCOT: Freezin’ Down in Texas – Mid-Winter 2022-2023 Generation Mix, Shortfalls, and Refinery Utilization
  33. Natural Gas Storage Mid-Winter 2022-2023 in the Northern Latitudes
  34. Comparing California Solar Generation During the 2022-2023 Pineapple Express
  35. U.S. SPR 2022 Emergency Sales by Purchaser Type
  36. Revisited: Near- and Short-Term Financial Returns of Green and Legacy Energy Investments vs Key S&P Benchmarks
  37. U.S. Liquid Fuel and Feedstock Rail Movements: Select Views

2022 Charts

  1. Russian Seaborne Crude Oil Exports and the Price Cap Mechanism

  2. The RFS: Do D6 RIN Prices Impact Corn Prices? A Simple Regression Analysis

  3. EU’s Industrial Competitiveness Hinges on Natural Gas

  4. Liquefied Natural Gas (LNG) Demand Shift and Diversions from China to Europe

  5. Resiliency of Crude Oil Production in the Permian Basin

  6. Revisited: Overview of Tight Distillate Markets

  7. New England Winter Electricity Generation Mix

  8. China Runs on Coal: From Deng to Xi

  9. Europe – Daily Natural Gas Receipts During 2022

  10. U.K.’s Electricity Generation Mix: Some Considerations

  11. Running on Empty: U.S. Strategic Petroleum ReserveNow at Historic Lows

  12. Germany’s Energiewende: Some Considerations

  13. Vast Majority of World Will Need More Energy

  14. Revisiting California Retail Gasoline Prices vs. the U.S.

  15. Calculating Foregone Tax Revenues per MMBTU of U.S. Primary Energy Production

  16. GHG Impact of Inflation Reduction Act & Bipartisan Infrastructure Law

  17. Natural Gas Storage Ahead of Winter 2022-2023

  18. U.S. Crude Oil Production: New EIA Data Reveals Shortfalls

  19. 2022 Mid-Summer Electricity Generation: California & Texas

  20. Europe – Recently Reported Monthly Natural Gas Receipts

  21. New York State CO2Emissions From Hydrocarbon Fuels

  22. 2022 Mid-Summer Retail Transportation Fuel Prices

  23. Natural Gas and Global Food Production

  24. Implied Tesla Battery Production Costs

  25. U.S. LNG Exports: Recent Trends

  26. California Summer Hydroelectric Power Shortfall is Projected

  27. Near- and Short-Term Financial Returns of Green and Legacy Energy Investments vs Key S&P Benchmarks

  28. Expected U.S. LNG Capacity: Then (2017) and Now (2022)

  29. Overview of Tight Global Distillate Markets

  30. The North American Hydrocarbon Production Platform: Fueling the Americas, Generating Trade

  31. Snapshot of Canadian Crude Oil, Petroleum Products, and Natural Gas Supply/Demand Balances

  32. Energy Value of Ethanol vs Gasoline

  33. U.S. Gasoline Sales vs. Vehicle Miles Traveled

  34. Seeking Gasoline Price Relief Through Strategic Petroleum Reserve (SPR) Sales

  35. U.S. Motor Vehicle Pollution Reduction Progress since 1970

  36. Federal Onshore Leases – Exploration & Potential Production Timeline

  37. European LNG Import Volumes & Capacity

  38. Are GazProm’s Natural Gas Volumes Increasing Through Ukraine and Slovakia as Some Claim?

  39. The Renewable Fuel Standard and Gasoline Prices

  40. U.S. Consumer Energy Expenditures as a Percentage of Disposable Income

  41. Winter of 2021-2022: Natural Gas Inventories in the Northern Latitudes – Mid-Season Update

  42. Foregone Tax Revenues from U.S. Biodiesel Tax Credits

  43. Onshore vs Offshore U.S. Royalties from Oil & Natural Gas Production

  44. Foregone Tax Revenues from U.S. Fossil Fuel Programs

  45. China Surpasses Japan in LNG Imports

2021 Charts

  1. Foregone Tax Revenues from U.S. Plug-in Electric Vehicle Tax Credits

  2. Foregone Tax Revenues from U.S. Federal Renewable Electricity Investment Credits

  3. Foregone Tax Revenues from U.S. Federal Renewable Electricity Production Credits

  4. Seeking Gasoline Price Relief Through Strategic Petroleum Reserve (SPR) Sales

  5. Natural Gas Inventories Ahead of Winter in the Northern Latitudes 2021-2022

  6. Lithium and U.S. Motor Vehicle Considerations

  7. Fertilizer: Where Natural Gas and Agriculture Meet

  8. Long-Term Underinvestment in Upstream Oil & Gas Production Foreshadows High Prices as Global Demand Returns

  9. Fast Charging Electric Vehicle (EV) Stations: Some Considerations

  10. High-Level Analysis of the Contribution of US Shale Gas to European Gas Prices and Savings

  11. Incremental Growth in Global Natural Gas Production Since 2010

  12. Select Residential Electricity Prices: US and Europe

  13. With High LNG Benchmark Prices, Some Asian Electricity Producers Are Considering Alternative Fuels

  14. Natural Gas Prices are Signaling Tight Energy Markets Ahead of Winter

  15. California Retail Gasoline Prices vs the U.S.

  16. Fire at PEMEX’s Ku-Maloob-Zaap Halts Oil Output Temporarily

  17. Total U.S. Annual Potential Solar Electricity Generation

  18. Access to Electricity in Africa

  19. Can California Meet Its Aggressive Fossil Fuel GHG Reduction Targets?

  20. Mexico’s and PEMEX’s Estimated Revenue from the Talos-Led Development of Zama: Proceeds Through 2040

  21. Gasoline Demand Forecasting: The Challenges of Getting It Right

  22. Incremental Growth in Global Oil Production Since 2010

  23. U.S. Energy Debt Market: A Look at High-Yield Bonds

  24. The Arctic National Wildlife Refuge Crude Oil Potential: An NPV Assessment

  25. U.S. Energy Debt Market Snapshot

  26. Can the California Electricity Grid Immediately Switch to an All EV Fleet?

  27. UK Electricity Capacity vs Electricity Generation

  28. Emissions from Bitcoin Mining

  29. U.S. Atlantic Coast is Dependent on Gulf Coast and MidContinent Petroleum Product Supplies

  30. Biofuel Mandates are Adding to Gasoline Prices

  31. Competition in U.S. Oil & Gas Upstream Development Yields Substantial Revenue to State Governments – The Case of Wyoming

  32. Can the U.S. Electricity Grid Immediately Switch to an All-EV Fleet?

  33. With Global Oil Demand on the Rebound, What About Supply?

  34. “India Is Getting It Done”

  35. LNG Suez Canal Traffic in Perspective

  36. Competition in U.S. Oil & Gas Upstream Development Yields Substantial Revenue to State Governments

  37. Changes to Mexico’s Planned Electricity Capacity Additions pre/post AMLO

  38. “Freezin’ Down in Texas, All the Refineries Are Down”

  39. China Runs on Coal

  40. U.S. Net Imports of Crude Oil and Petroleum Products