Magazine article The Futurist

U.S. Energy Demand Continues Upswing

Magazine article The Futurist

U.S. Energy Demand Continues Upswing

Article excerpt

Americans will continue to be dependent on imported oil in the coming decades, while the downturn in nuclear generating capacity is expected to slow. These are among the key findings of the Annual Energy Outlook from the U.S Department of Energy, which forecasts energy supply, demand, and prices through 2025. The report also projects increased energy consumption, prices, and production over the next two decades.

Natural gas, oil, and nuclear power will still play their traditional roles in supplying the nation's energy. Dependence on imported oil, accounting far 55% of total U.S. oil demand in 2001, is expected to continue steadily rising. This demand will cause prices to rise to roughly $26.50 per barrel in 2025, up from $22.01 in 2001. Worldwide, demand is projected to increase from 76 million barrels per day in 2001 to 112 million barrels per day in 2020.

U.S. demand for transportation fuels is projected to increase, based on anticipated GDP growth of 3% annually and the increase in miles traveled by light-duty vehicles by 2.4% per year through 2020.

The Department of Energy forecasts growing dependence on major new, large-volume natural gas supply projects for both domestic and imported supplies to meet future demand levels. These projects include deepwater offshore wells, new and expanded liquefied natural gas facilities, Canada's Mackenzie Delta pipeline, and an Alaskan pipeline that would allow delivery of natural gas to the lower 48 states. Gas prices are expected to drop then rise again. …

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