Energy Overview for CNA Panel Discussion May 8, 2013 Crystal City, VA by Howard Gruenspecht, Deputy Administrator U.S. Energy Information Administration Independent Statistics & Analysis www.eia.gov
Non-OECD nations drive the increase in energy demand world energy consumption quadrillion Btu History 2008 Projections 500 482 400 Non-OECD 300 260 288 OECD 244 200 100 0 1990 1995 2000 2005 2010 2015 2020 2025 2030…
Growth in income and population drive rising energy use; energy intensity improvements moderate increases in energy demand average annual change (2008-2035) percent per year 7 Energy Intensity GDP per capita Population 6 5 4 3 2…
Non-OECD liquid fuels use surpasses almost flat OECD liquid fuels use in the near future total liquids consumption million barrels per day History 2010 Projections 70 66 60 Non-OECD 50 46 OECD 47 40 41 30 20 10 0 2000 2005…
Liquids fuel consumption in the United States, China, and India, 1990-2040 million barrels per day History 2010 Projections 30 United States 20 China 10 India 0 1990 1995 2000 2005 2010 2015 2020 2025 2030 2035 2040…
Global liquids supply increases 26 percent with regional market shares relatively stable Global liquids supply million barrels per day History 2011 Projections 120 100 44% OPEC 80 40% 60 Other non-OECD 31% 40 34% 20 OECD…
World oil prices move together due to arbitrage Global crude oil prices Nominal dollars per barrel, monthly average 160 WTI Brent Dubai Tapis Mars 140 120 100 80 60 40 20 0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010…
Spot natural gas prices vary significantly across global markets since 2008, with many markets far below oil-related benchmarks Global spot natural gas, crude oil, and LNG prices U.S. dollars per million British thermal unit 35 30…
U.S. Energy Context Howard Gruenspecht , CNA Panel May 8, 2013 9
Key results from the 2013 Annual Energy Outlook Growth in U.S. energy production outstrips consumption growth Oil production, particularly from tight oil plays, rises sharply over the next decade Motor gasoline consumption declines,…
U.S. energy use grows slowly over projection reflecting improving energy efficiency and a slow and extended economic recovery U.S. primary energy consumption quadrillion Btu Shares of total U.S. energy History 2000 2011 Projections…
Multiple factors have contributed to U.S. crude oil resource estimate increases over the years, with tight oil contributing recently U.S. crude oil and lease condensate resources in non-prohibited areas billion barrels 250 Unproved Alaska…
U.S. import share of liquid fuels declines due to increased production of tight oil and gas liquids, and greater fuel efficiency U.S. liquid fuels supply million barrels per day History 2011 Projections 25 Biofuels excluding imports…
U.S. tight oil production leads growth in domestic production Reference case High Oil & Natural Gas Resource case U.S. crude oil production (million barrels per day) History 2011 Projections History 2011 Projections 10 10 STEO…
U.S. net oil imports decline to 7% in 2040 in high resource case; the United States becomes a net oil exporter with additional demand reductions U.S. net oil imports percent History 2011 Projections 60 50 High Net Imports 40…
The ratio of oil to natural gas prices remains high through 2040 in EIAs AEO2013 Reference case projection ratio of oil price to natural gas price History 2011 Projections 8 7 6 5 4 Oil and natural gas prices 2011 dollars per…
Domestic natural gas production grows faster than consumption and the U.S. becomes a net exporter of natural gas around 2020 U.S. dry gas trillion cubic feet History 2011 Projections 35 30 25 Consumption 20 Domestic supply 15 10…
Shale gas production leads growth in production through 2040 U.S. dry natural gas production trillion cubic feet History 2011 Projections 35 30 25 Shale gas 20 15 Non-associated offshore Tight gas 10 Alaska Coalbed methane…
For more information U.S. Energy Information Administration home page www.eia.gov Annual Energy Outlook www.eia.gov/forecasts/aeo Short-Term Energy Outlook www.eia.gov/forecasts/steo International Energy Outlook…
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