Outlook for U.S. Energy Markets Susan H. Holte Technical Assistant to the Administrator Energy Information Administration 10th Annual Ohio Energy Management & Restructuring Conference March 1, 2006 Columbus, OH
Major Events and World Oil Prices 1970-2005 Hurricanes Katrina and Rita Strike U.S. Gulf Coast dollars per barrel Strong Demand Growth 80 Saudis abandon swing producerOperation Desert Venezuela Unrest 60 role Storm Iran-Iraq…
Shut-In Federal Offshore Gulf Crude Oil Production thousand barrels per day dollars per barrel History Projections 72 2,000 WTI Crude Oil Price Shut In Capacity 66.00 66.50 66.00 65.50 66 1,600 60 1,200 800 54 335 298 48…
West Texas Intermediate Crude Oil Price (dollars per barrel) 100 History Projections 90 80 70 60 50 40 30 20 10 0 Jan-02 Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Short-Term Energy Outlook, February 2006
World Oil Spare Production Capacity (million barrels per day) 6.0 History Projections 5.0 4.0 3.0 2.0 1.0 0.0 1991- 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 1997 Average Short-Term Energy Outlook, February…
World Oil Demand Growth (million barrels per day) 1.6 History Projections 1.4 1.2 1.5% 1.9% 2.2% 1.0 0.8 0.6 0.4 0.2 0.0 2005 2006 2007 OECD* Non-OECD Asia Former Soviet Union & E. Europe Other *Organization of Economic…
World Oil Demand Growth (million barrels per day) 3.0 2.5 History Projections 2.0 1.5 United States 1.0 0.5 China 0.0 -0.5 1991- 2000 2001 2002 2003 2004 2005 2006 2007 1999 Average Short-Term Energy Outlook,…
U.S. Petroleum Products Demand Growth (thousand barrels per day) 1000 History Projections 800 600 2.2% 1.7% 400 200 -0.3% 0 -200 -400 2005 2006 2007 Total Motor Gasoline Jet Fuel Fuel Oil Other Short-Term Energy…
U.S. Crude Oil Stocks (million barrels) 400 History Projections 380 Previous 5-Year Min/Max Range 360 340 320 300 280 260 240 220 200 Jan-02 Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Short-Term Energy Outlook, February…
Shut-In Federal Offshore Gulf Natural Gas Production billion cubic feet per day dollars per thousand cubic feet 10 History Projections 20 Henry Hub Price * Shut-In Capacity 8 16 6 12 9.51 9.45 8.74 8.30 4 8 2 1.3 4 1.0…
U.S. Natural Gas Demand Growth 12% 90 10% 80 History Projections 8% 70 6% 60 4% 50 2% 40 0% 30 -2% 20 -4% 10 -6% 0 1993 1995 1997 1999 2001 2003 2005 2007 Percent Change (left axis) Billion Cubic Feet per Day (right…
U.S. Natural Gas Spot Prices (dollars per thousand cubic feet) 16 History Projections 14 12 10 8 6 4 2 0 Jan-02 Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Short-Term Energy Outlook, February 2006
EIA Has Reassessed Its Long-Term Oil Price Projection Major oil producing countries pace investment more consistent with higher oil price path Investment impediments more persistent, even after several years of relatively high oil…
World Oil Price, 1980-2030 (2004 dollars per barrel) 80 History Projections 60 40 20 History AEO2005 AEO2006 0 1980 1990 2000 2010 2020 2030 Annual Energy Outlook 2005 and 2006
U.S. Primary Energy Consumption by Fuel, 1960-2030 (quadrillion Btu) 60 History Projections Petroleum 50 40 Coal 30 Natural Gas 20 Nuclear 10 Renewables 0 1960 1970 1980 1990 2000 2010 2020 2030 Annual Energy Outlook…
U.S. Delivered Energy Consumption by Sector, 2004, 2025, and 2030 (quadrillion Btu) 45 2004 History 40 AEO2005 - 2025 AEO2006 - 2025 35 AEO2006 - 2030 30 25 20 15 10 5 0 Residential Commercial Industrial…
U.S. Energy Use per Capita and per Dollar of Real Gross Domestic Product, 1970-2030 (index, 1970 = 1) 1.2 History Projections 1.0 per dollar real GDP 0.8 per capita 0.6 0.4 0.2 0.0 1970 1980 1990 2000 2010 2020…
U.S. Petroleum Consumption by Sector, 2004, 2010, 2025, and 2030 (millions of barrels per day) 30 27.9 27.6 26.1 Electric Power 25 23.0 22.2 Industrial 20.8 Residential and 20 Commercial 15 10 Transportation 5 0…
U.S. Petroleum Supply, Consumption, and Net Imports, 1960-2030 (million barrels per day) 30 History Projections 25 20 62% Consumption Net Imports 15 58% 10 Domestic Supply 5 0 1960 1970 1980 1990 2000 2010 2020…
U.S. Crude Oil Production by Source, 1990-2030 (million barrels per day) 10 History Projections 8 6 Total 4 Lower 48 Onshore 2 Deepwater Offshore Alaska Shallow Water Offshore 0 1990 1995 2004 2010 2015 2020…
U.S. Natural Gas Wellhead Price, 1970-2030 (2004 dollars per thousand cubic feet) 8 History Projections 7 6 5 4 3 History AEO2005 2 AEO2006 1 0 1970 1980 1990 2000 2010 2020 2030 Annual Energy Outlook 2005 and…
U.S. Natural Gas Consumption by Sector, 2004, 2010, 2025, and 2030 (trillion cubic feet) 30.7 30 27.0 26.9 25.4 25 23.4 22.4 Electric Power 20 15 Industrial 10 Commercial 5 Residential Transportation 0 2004 AEO2005…
Growth in U.S. Natural Gas Consumption by Region, 2004-2030 (percent per year) New England Middle Atlantic South Atlantic East North Central East South Central West North Central West South Central Mountain Pacific…
U.S. Natural Gas Production, Consumption, and Net Imports, 1960-2030 (trillion cubic feet) 30 History Projections 25 Consumption Net Imports 21% 15% 20 Production 15 Natural Gas Net Imports, 2004, 2025, and 2030 (trillion…
Major Sources of Incremental U.S. Natural Gas Supply, 2004-2030 (trillion cubic feet) 28 26 Growth in Alaskan Production 24 Growth in LNG Imports 22 Growth in Non-Associated Unconventional 20 18 Base Production (all…
U.S. Net Imports of Natural Gas, 1960-2030 (trillion cubic feet) 5 History Projections 4 Liquefied Natural Gas 3 2 Canada 1 0 Mexico -1 1960 1970 1980 1990 2000 2010 2020 2030 Annual Energy Outlook 2006
U.S. Coal Consumption by Sector, 2004, 2010, 2025, and 2030 (million short tons) 2,000 1,784 1,592 1,508 1,500 1,229 1,233 1,104 1,000 Electric Power 500 Coal to Liquids 0 Other 2004 AEO2005 AEO2006 AEO2005…
U.S. Electricity Generation by Fuel, 1980-2030 (billion kilowatthours) History Projections 3,000 Coal 2,000 Natural Gas 1,000 Nuclear Renewables Petroleum 0 1980 1990 2000 2010 2020 2030 Annual Energy Outlook 2006
U.S. Electricity Generation Capacity Additions by Fuel, 2005-2030 (gigawatts) 80 Natural Gas 70 Coal 60 Renewables 50 40 Nuclear 30 20 10 0 2005-2010 2011-2015 2016-2020 2021-2025 2026-2030 Annual Energy Outlook 2006
U.S. Electricity Generation Capacity Additions by Region, 2005-2030 (gigawatts) ECAR (East Central) ERCOT (Texas) MAAC (Mid-Atlantic) MAIN (Mid-America) MAPP (Mid-Continent) Natural Gas New York Coal New England…
World Primary Energy Consumption by Fuel, 1970-2025 (quadrillion Btu) 300 History Projections 250 38% 200 Share of Natural Gas 25% World Oil 24% 150 Total Coal 100 Renewables 50 8% 5% Nuclear 0 1970 1980 1990 2000 2010…
World Marketed Energy Consumption by Region, 1970-2025 (quadrillion Btu) 350 300 History Projections 46% 42% 250 Mature Market 200 Economies Share of World 150 Emerging Total Economies 100 12% 50 Transitional Economies…
World Oil Consumption and Production, 2004, 2020, and 2030 (million barrels per day) Consumption Production Mature Market Economies OPEC 140 Emerging Economies Transitional Economies Transitional Economies Other 117.8 117.8 120…
World Oil Reserves by Country, as of January 1, 2006 (billion barrels) Saudi Arabia Canada Iran Iraq Kuwait UAE Venezuela Russia Libya Nigeria United States China Qatar Mexico World Total = Algeria 1,293 Billion Barrels…
World Natural Gas Reserves, as of January 1, 2006, and Cumulative Consumption, 2002-2025 (trillion cubic feet) Middle East Transitional Reserves Economies Cumulative Consumption, 2002-2025 Africa Emerging Asia North…
Periodic Reports Petroleum Status and Natural Gas Storage Reports, weekly Short-Term Energy Outlook, monthly Annual Energy Outlook 2006, February 2006 International Energy Outlook 2005, July 2005 Examples of Special Analyses Economic…