According to data from the U.S. Energy Information Administration (EIA), U.S. energy production hit an all-time high in 2023, outpacing consumption by a record margin. That year, energy production increased 4% to nearly 103 BTUs, while consumption decreased 1% to 94 quadrillion BTUs. This 9 quadrillion BTU difference represents the largest gap on record since records began in 1949.
The increase in total energy production in the United States in 2023 is mainly driven by growth in natural gas and crude oil production. Dry natural gas production increased 4% to a record 39 quadrillion BTUs, growing 58% since 2013. Crude oil production increased 9% compared to 2022, reaching a record 27 quadrillion BTUs, an increase of 69% since 2013.
Production of natural gas liquids, a byproduct of natural gas production, also increased 8% to 8 quadrillion BTUs in 2023, up 143% since 2013.
Expansion of renewable energies
In 2023, renewable energy production increased 1% to a record 8 quadrillion BTUs, an increase of 28% since 2013. Solar energy production grew 15% last year , reaching almost 1 quadrillion BTU, while biomass energy production increased by almost 2%, surpassing 5 quadrillion BTU. In contrast, wind power generation fell 2% to about 1.5 quadrillion BTUs, mainly due to weaker winds last year.
Energy consumption down slightly
U.S. energy consumption decreased slightly in 2023. Since the record high of 99 quadrillion BTUs reached in 2007, U.S. energy consumption has fluctuated between 89 and 97 quadrillion BTUs per year.
Combined consumption of oil and natural gas, the main sources of energy in the United States in 2023, was virtually unchanged from 2022. Coal consumption fell 17% to 8 quadrillion BTUs, its lowest level since the 19th century, mainly due to the decline in its use for electricity production.
