U.S. oil and natural gas outlook IAEE International Conference June 16, 2014 New York, NY By Adam Sieminski, EIA Administrator U.S. Energy Information Administration Independent Statistics & Analysis www.eia.gov
The U.S. has experienced a rapid increase in natural gas and oil production from shale and other tight resources U.S. tight oil production U.S. dry shale gas production million barrels of oil per day billion cubic feet per day Eagle…
U.S. is the largest producer of petroleum and natural gas in the world estimated U.S., Russia, and Saudi Arabia petroleum and natural gas production quadrillion Btu million barrels per day of oil equivalent 60.0 30 United States…
Growing tight oil and offshore crude oil production drive U.S. output close to historical high U.S. crude oil production million barrels per day History 2012 Projections 10 U.S. maximum production level of 9.6 million barrels per…
U.S. transportation sector motor gasoline demand declines, while diesel fuel accounts for a growing portion of the market transportation energy consumption by fuel quadrillion Btu History Projections 2012 30 2030 2040 25 20 44% 59%…
U.S. is now a major net exporter of petroleum products U.S. petroleum product net exports million barrels per day 2015 3 2 1 0 -1 -2 -3 1950 1960 1970 1980 1990 2000 2010 Source: EIA, Annual Energy Outlook 2014…
Although oil use is slightly increased in the High Resource case due to lower prices, net import dependence declines rapidly U.S. liquid fuel supply million barrels per day History Projections 2012 25 2005 2016 2040 High Resource 20…
U.S. shale gas leads growth in total gas production through 2040 to reach half of U.S. output U.S. dry natural gas production trillion cubic feet billion cubic feet per day History 2012 Projections 40 100 35 90 30 80 25 70 Shale…
U.S. natural gas consumption growth is driven by electric power, industrial, and transportation use U.S. dry gas consumption trillion cubic feet History Projections 35 30 11.0 Electric 25 power 20 8.5 Industrial* 15 11.2 9.1 10…
U.S. manufacturing output and natural gas use grows with low natural gas prices, particularly in the near term manufacturing natural gas consumption quadrillion Btu billion cubic feet per day 9 24 8 Refining and 20 7 related 6 16 5…
U.S. natural gas use in the transportation sector grows rapidly with the largest share in freight trucks natural gas use by mode trillion Btu billion cubic feet per day 900 2.5 800 Approximate crude oil equivalent, 700 (thousand…
U.S. becomes a net exporter of natural gas in the near future U.S. dry natural gas trillion cubic feet per year billion cubic feet per day History 2012 Projections 40 100 30 75 Consumption 20 50 Domestic supply 10 25 Net…
U.S. natural gas trade U.S. natural gas imports and exports trillion cubic feet per year billion cubic feet per day History 2012 Projections 10 2025 25 8 5.4 tcf of exports (14.8 bcf/day) 20 6 Pipeline exports to Mexico 15 4…
Liquefaction and regasification projects in the Americas Liquefaction (bcf/d) Country Operating Construction Engineering Peru 0.6 Trinidad and Tobago 2.0 Colombia 0.1 United States 1.2 13.1 Brazil 0.4 Canada 3.3 Total 2.6 1.3…
EIA / ARI assessed shale oil and shale gas resources 2013 Source: United States basins from EIA and United States Geological Survey, other basins from ARI based on data from various published studies IAEE International Conference…
Top ten countries with technically recoverable shale resources Monterey downgrade will lower this to 45 Shale gas Shale oil Rank Country Trillion cubic feet Rank Country Billion barrels 1 China 1,115 1 Russia 75 2 Argentina 802 2…
Geopolitical implications of shale resources Shale oil is both light and sweet the rapid growth in its supply has implications for crude oil pricing relationships, the value of different refinery configurations, refinery output slates,…
For more information U.S. Energy Information Administration home page www.eia.gov Annual Energy Outlook www.eia.gov/aeo Short-Term Energy Outlook www.eia.gov/steo International Energy Outlook www.eia.gov/ieo Monthly Energy Review…
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