The oil industry is one of the main drivers of growth and economic development in almost every country, including the United States. Throughout its history, man has been using various energy sources, but only with the first industrial revolution and the exploitation of coal, later oil, does a turning point and faster economic development occur, and the development of the oil industry and the control over oil resources, which are geographically unevenly distributed, become one of the the main determinants of the country's development. Since the development of the oil industry, there have been periods of occasional major surges and price changes caused by oil crises and disruptions in oil production. As the price of oil is expressed in US dollars, sudden changes in the price affect the movement of dollar and other currencies and economic relations in the world. Energy crises are expected to continue in the future until alternative energy sources are found that would significantly reduce oil consumption and provide surplus energy. Today's crises manifest themselves in a very short period of time and are visible globally in the capital markets and sufficient energy sources need to be taken into account to support stable economic growth. The aim of this paper is to analyze the impact of oil and oil shocks on the US economy, that is, its macroeconomic variables, and to identify the need to increase energy independence and efficiency.