Loading ...
Sorry, an error occurred while loading the content.

US Energy Demand to Grow 1.5 Pct Annually

Expand Messages
  • npat1@juno.com
    US Energy Demand to Grow 1.5 Pct Annually WASHINGTON - U.S. energy consumption is expected to grow 1.5 percent a year over the next two decades, with America
    Message 1 of 1 , Jan 3, 2004
    • 0 Attachment
      US Energy Demand to Grow 1.5 Pct Annually

      WASHINGTON - U.S. energy consumption is expected to grow 1.5 percent a
      year over the next two decades, with America using less natural gas and
      crude oil but more coal, nuclear power and renewable energy sources than
      previously thought, the government said this week.

      Oil demand was revised lower because of expected increases in federal
      vehicle gasoline mileage requirements, and higher natural gas prices will
      push down gas demand, according to the U.S. Energy Information
      Administration's long-term forecast.
      Nonetheless total U.S. energy use will increase more rapidly than
      domestic energy production and more imports - particularly oil - will be
      needed to meet a growing share of energy demand, EIA said.

      The Energy Department's analytical arm said U.S. crude oil production
      will increase from 5.6 million barrels per day (bpd) last year to a peak
      of 6.1 million bpd in 2008 and gradually decline to 4.6 million bpd in

      At the same time, domestic oil demand will jump from the current 20
      million bpd to 28.3 million bpd in 2025.

      As a result, petroleum imports - including both crude oil and refined oil
      products like gasoline - will account for 70 percent of demand, up from
      54 percent last year.

      Separately, U.S. natural gas demand is forecast to grow 1.4 percent a
      year from 22.8 trillion cubic feet (Tcf) in 2002 to 31.4 Tcf in 2025,
      primarily because of more power plants being built that use gas as a fuel
      for generating electricity, EIA said.

      However, domestic gas production is not expected to grow as fast and
      imports of liquefied natural gas (LNG) will have to close the widening
      gap between supply and demand.

      Tighter supplies of natural gas mean U.S. production will be 23.79 Tcf in
      2020 - significantly lower than the 25.1 Tcf that the EIA forecast one
      year ago for 2020. The change is due to declining production from
      existing gas wells and new fields that are typically smaller than the
      large, older fields already tapped.

      LNG imports are forecast to increase to 4.8 Tcf in 2025, double the EIA's
      estimate last year in its long-term energy outlook. The increase would
      mean LNG would account for 15 percent of total U.S. gas demand in 2025.

      LNG is natural gas super-cooled for transportation aboard special
      tankers. The manufacturing process cools the gas to minus-259 degrees
      Fahrenheit, changing the gas into liquid and shrinking it to less than
      1/600 of its original volume.

      Other highlights of the EIA's energy forecast between 2002 and 2025
      include: * Average world oil price, reflecting inflation, rises from $27
      a barrel to $52.

      * Coal remains the primary fuel for power plants, accounting for 52
      percent of electric generation in 2025 from the current 50 percent.

      * Electricity generated by renewable sources like solar and wind
      increases 1.9 percent a year to 518 billion kilowatt-hours.

      * No new nuclear power plants expected to be built, but current plants
      increase their generating capacity.

      * Carbon dioxide emissions increase 1.5 percent a year from 5,729 million
      metric tons to 8,142 million metric tons.

      Story by Tom Doggett

      Mail this story to a friend | Printer friendly version

      The best thing to hit the internet in years - Juno SpeedBand!
      Surf the web up to FIVE TIMES FASTER!
      Only $14.95/ month - visit www.juno.com to sign up today!
    Your message has been successfully submitted and would be delivered to recipients shortly.