EIA Releases U.S. Energy Production Projections
EIA has released its Annual Energy Outlook 2013 (AEO2013) Reference case today. The report predicts that the growth in total energy production will exceed the growth of total energy consumption in the U.S. through the year 2040.
"EIA's updated Reference case shows how evolving consumer preferences, improved technology, and economic changes are pushing the nation toward more domestic energy production, greater vehicle efficiency, greater use of clean energy, and reduced energy imports," said EIA Administrator Adam Sieminski. "This combination has markedly reduced projected energy-related carbon dioxide emissions.”
Some of the key findings in the case are as follows:
· Renewable fuel use will begin to grow at a faster pace than fossil fuel use.
· Electricity generation from renewables will become 16 percent by 2040, as compared to 13 percent in 2011.
· Natural gas production in the U.S. will quickly outpace consumption, making the U.S. a net exporter of liquefied natural gas (LNG) in 2016 and a net exporter of total natural gas in 2020.
· The U.S. will see a significant decrease of energy imports, falling from 19 percent in 2011 to 9 percent by 2040.
The AEO2013 Reference case focuses on drivers that shape U.S. energy markets, assuming that current laws and regulations remain generally unchanged throughout the projection period. The complete AEO2013 will include many alternative cases in recognition of the uncertainty inherent in making projections about energy markets, and is set to be released in early 2013.