The EIA predicts that energy consumption in the United States will increase

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Hydrocarbon Engineering,

Energy consumption in the United States will increase over the next 30 years as population and economic growth outpace gains in energy efficiency, according to EIA projections. In its Annual Energy Outlook 2022 (AEO2022), the EIA predicts that renewables will be the fastest growing energy source through 2050, but oil and liquid fuels will remain the fastest growing energy source. more consumed.

“Our base case predicts that, without changes to laws and regulations, improvements in energy efficiency will slow the rate of growth of energy consumption in the United States, and that technological advances and increased resource development will increase energy supply,” said Steve Nalley, EIA Acting Administrator. “We examine a variety of cases and compare them to the reference case to illustrate how the availability of energy resources, the pace of technological advancement, and other factors could shape future U.S. energy markets.”

AEO2022 highlights include:

  • Oil and natural gas remain the most consumed energy sources in the United States through 2050, but renewable energy is growing the fastest. Natural gas and renewables will continue to grow through 2050, with renewables seeing the fastest growth in all scenarios.
  • Wind and solar incentives, along with falling technology costs, support vigorous competition with natural gas for power generation, while the shares of coal and nuclear power are shrinking in the US electricity mix. State and federal policies continue to provide strong incentives to invest in renewable resources for power generation and transportation fuels, while advances in technology will help reduce costs and increase the competitiveness of renewables.
  • US crude oil production is at record highs, while natural gas production is increasingly driven by natural gas exports. U.S. oil and natural gas production will be driven in part by continued global demand through 2050. In most cases, the EIA projects continued growth in U.S. LNG export capacity , supporting growth in U.S. natural gas production and exports.

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