U.S. Energy Is Even More All-Of-The-Above
Robust energy production growth coupled with relatively flat U.S. demand support net energy exports in EIA’s AEO2018
February 6, 2018 (U.S. Energy Information Administration)
“…[C]ontinued development of the U.S. shale and tight oil and gas resources paired with modest energy consumption growth, [will lead] to the transition of the United States from a net energy importer to a net energy exporter across most cases examined in [the U.S. Energy Information Administration’s just-released Annual Energy Outlook 2018 (AEO2018)...The United States has been a net energy importer since 1953, but AEO2018 projects the United States will become a net energy exporter by 2022 in the Reference case…[It also shows increases] in energy efficiency temper growth in energy demand…Energy consumption grows about 0.4%/year on average in the Reference case from 2017 to 2050…[while annual] real GDP growth is expected to average 2.0%...Almost all of new electricity generation capacity is fueled by natural gas and renewables after 2022…[as natural gas prices] remain below $5/million British thermal units until the very end of the projection period and [the cost of renewables, especially solar photovoltaic, continues to decline]…” click here for more
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