The shift from fossil fuels to renewable energy sources, often called the energy transition, is proving to be more challenging than many had hoped. Even though there’s a strong global push toward cleaner energy, fossil fuels are still deeply embedded in our daily lives. Former President George W. Bush famously described our dependence on oil as an “addiction,” and that description still feels accurate today. Fossil fuels not only power our cars but are also crucial for making plastics and other products that we use every day.

According to recent forecasts from the Energy Information Administration (EIA), global oil demand should rise by 1.1 million barrels per day (bpd) this year, pushing the total consumption up to approximately 103 million bpd. This continued growth in oil demand shows that despite the push for renewable energy, the world’s reliance on fossil fuels remains strong. In the U.S., oil consumption is expected to reach 20.5 million bpd in 2024. However, the country will only produce approximately 13 million bpd, which is up from 11.9 million bpd in 2023, but still not enough for demand. This means that the U.S. will still be importing a significant amount of oil to meet its needs.

This gap between how much oil the U.S. produces and how much it consumes highlights a major challenge: balancing our energy needs while transitioning to cleaner sources. While we need to continue pushing for more renewable energy, it’s important to remember that we still rely heavily on fossil fuels. If our energy policies assume a faster transition to renewables than what’s actually happening, we could face energy shortages and higher prices in the future. It’s crucial that we set realistic goals for the transition to ensure we have a stable and affordable energy supply.

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