EIA Predicts No Growth In US Oil Consumption for the First Time in 20 Years

The Energy Information Administration (EIA) yesterday released its Annual Energy Outlook 2009, presenting U.S. energy consumptions and production projections for the next few decades.
Among EIA’s predictions:

• No growth in U.S. oil consumption. This is the first time in over 20 years that the EIA did not project a growth.


• The natural gas industry will expand but will rely less on foreign imports less. EIA projects that the total net share of imported natural gas will drop from 16 percent in 2007 to less than 3 percent in 2030.


• Energy-related CO2 emissions and energy usage will continue to grow, but at a much slower rate, due in part to higher energy prices and new efficiency policies.


• Oil prices will continue to rise, costing $130 per barrel by 2030 ($189 per barrel, adjusted for inflation).


• The renewable fuel industry will grow, with U.S. consumption rapidly rising by 3.3 percent every year.


• Hybrid vehicle sales will jump from 2 percent in 2007 to 38 percent in 2030. By that time plug-in hybrids will also account for 2 percent of all new car sales.

The full report will be available for download later this month on the EIA website. EIA also issued its International Energy Outlook report containing predictions about wind power, world oil prices, etc.