EIA Predicts Steady Oil & Gas Consumption through 2040

PumpjackA report from the U.S. Energy Information Administration (EIA) foresees that oil and gas consumption in the United States is likely to remain near current levels through 2040.

The EIA’s Annual Energy Outlook 2016, which analyzes market trends, technologies and legislation, projects that fossil fuels will continue to provide around 75% to 80% of American energy needs for the next quarter century. Its predictive model sees population growth and increased travel being offset by improvements in fuel economy and related developments. Natural gas usage is forecast to increase in the industrial and power generation sectors, while overall coal consumption will likely continue its decline.

The authors of the report note that breakthroughs in technology or changes in regulatory policies in the coming decades could significantly change their projections.

To read more about the report, see this article on the JWN Energy website.

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