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The U.S. Energy Information Administration (EIA) released its annual National Energy Outlook on January 24. The Outlook provides projections of domestic energy markets through 2050 and includes cases with different assumptions about economic growth, world prices and technological progress.
Key takeaways from the report include:
- The U.S. becomes a net energy exporter in 2020 as a result of large increases in oil and natural gas production, coupled with slow growth in U.S. energy consumption.
- Utilities experience a shift in fuels used to generate electricity, driven by low natural gas prices. Increased natural gas-fired electricity generation, increased use of renewables and additional retirements of coal and nuclear plants occur during this period.
- Increasing energy-efficiency across all industry sectors keeps U.S. energy consumption flat, even as the economy expands.
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