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US Becoming More Energy Independent

January 26, 2012

The U.S. Energy Information Administration (EIA) said on Monday that the nation will become more energy independent by 2035.

EIA released the updated projections for U.S. energy in the Annual Energy Outlook 2012 Reference case, reports Wendy Koch for USA TODAY.

“Our updated Reference case projections show natural gas and renewables gaining an increasing share of U.S. electric power generation, domestic crude oil and natural gas production growing, reliance on imported oil decreasing, U.S. natural gas production exceeding consumption, and energy-related carbon dioxide emissions remaining below their 2005 level through 2035,” EIA Acting Administrator Howard Gruenspecht said in a statement.

Domestic crude oil production is expected to grow by 20 percent over the next decade, according to the new report.

EIA said crude oil production increased from 5.1 million barrels per day in 2007 to 5.5 million barrels per day in 2010.

It said that over the next 10 years, continued development of oil combined with the development of offshore Gulf of Mexico resources are projected to push domestic crude oil production to 6.7 million barrels per day in 2020.

EIA also projects the U.S. dependence on imported petroleum liquids will decline 13 percent by 2035 as a result of growth in domestic oil production.

According to the report, the U.S. will also become a net exporter of liquefied natural gas in 2016, a net pipeline exporter in 2025, and an overall exporter of natural gas in 2021.  An increased use of liquefied natural gas in markets outside of North America will help drive this change.

Despite the projected growth of the energy industry in the U.S., EIA said carbon dioxide (CO2) emissions will remain below their 2005 level through 2035.

It said that CO2 emissions will grow by 3 percent from 2010 to 2035, but will be more than 7 percent below their 2005 level in 2020.  EIA said it will not return to the 2005 level until the end of the projection period.

The use of natural gas share of electric power generation will increase from 24 percent in 2010 to 27 percent in 2035, according to the new projections.

The U.S. primary energy consumption will grow from 101.4 quadrillion Btu in 2007 to 108.0 quadrillion Btu in 2035.

The projected net import share of energy consumption in the U.S. in 2035 will be 13 percent, compared to 22 percent in 2010.

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Source: RedOrbit Staff & Wire Reports



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