New EIA Report Shows U.S. Energy Production Predicted to Outnumber Consumption Growth

The EIA's Annual Energy Outlook 2013 Reference case predicts energy production in the U.S. will soon outnumber consumption growth.

The U.S. Energy Information Administration (EIA) has released its Annual Energy Outlook 2013 (AEO2013) reference case which shows predictions for the U.S. energy market through 2040.

According to the AEO2013, energy production in the U.S. will begin to outweig consumption growth, enabling the country work on reducing its dependence on foreign oil. 

Key findings from the report include: 

  • Crude oil production, particularly from tight oil plays, rises sharply over the next decade.
  • Motor gasoline consumption is lower in the AEO2013 relative to the level in AEO2012, reflecting the introduction of more stringent corporate average fuel economy (CAFE) standards; growth in diesel fuel consumption is moderated by increased use of natural gas in heavy-duty vehicles.
  • The United States becomes a larger exporter of natural gas than projected in the AEO2012 Reference case.
  • Renewable fuel use grows at a much faster rate than fossil fuel use.
  • With improved efficiency of energy use and a shift away from the most carbon-intensive fuels U.S. energy-related carbon dioxide (CO2) emissions remain more than 5% below their 2005 level through 2040.

Read the full article to learn more.