![]() The vast majority of US heavy oil imports come from Canada, but future import levels could be impacted by decisions such as the cancelation of the border crossing permit for the Keystone XL pipeline. This will be “mostly heavy crude oil,” the EIA said. However, crude oil imports will continue to increase to meet domestic demand, from 6.5 million barrels per day in 2020 to 8.2 million barrels per day in 2050. The US will remain a major producer of both oil (growing from 11.5 million barrels per day to 12.8 million barrels per day) and natural gas (growing from 93 billion cubic feet per day to 118 billion cubic feet per day). Meanwhile, the share of petroleum and natural gas will remain flat at 36 and 34 per cent, respectively, or a combined 70 per cent of total US energy consumption in 2050. The EIA’s baseline forecast projects that overall US energy consumption will increase by approximately 17 per cent between 20 because of increasing population and economic growth.ĭriven by incentives and falling technology costs, EIA forecasts the share of solar and to a lesser extent wind will increase from about 5 per cent in 2020 to 13 per cent in 2050. “Petroleum is sticky, natural gas is increasing and coal is declining,” Angelina LaRose, EIA’s assistant administrator for energy analysis, told a webinar launching the new forecast Wednesday. Oil and gas will continue to dominate US energy consumption through 2050, according to the latest outlook from the US Energy Information Administration (EIA). By Deborah Jaremko on February 4, 2021, 1:30 pm MST An aerial view shows the Shell Carson Distribution Complex, which distributes fuel throughout the Southern California region. ![]()
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