U.S. Oil and Natural Gas Markets Guy Caruso Administrator Energy Information Administration U.S. Department of Energy 10th Annual Asia Oil and Gas Conference Kuala Lumpur, Malaysia June 14, 2005
Key findings from EIAs outlooks In the short-term, tight markets and political uncertainties keep world oil prices high. Through 2025, oil remains the dominant source of U.S. and world energy use with about 40 percent of total world…
West Texas Intermediate Crude Oil Price (Base Case and 95% Confidence Interval) 80 History Projections 70 60 Dollars per Barrel 50 40 30 20 10 0 Jul-00 Jul-01 Jul-02 Jul-03 Jul-04…
World Oil Demand Growth 3.0 2.5 Million Barrels per Day 2.0 1.5 US 1.0 0.5 China 0.0 -0.5 1991- 2000 2001 2002 2003 2004 2005 2006 1999 Avg. World oil demand growth, led by China, is surging at very high rates…
U.S. Crude Oil Production 6.00 1.20 History Proj. 5.00 1.00 4.00 Total Change (Right Axis) 0.80 Million Barrels per Day Million Barrels per Day Lower 48 (Left Axis) 3.00 Alaska (Left Axis) 0.60 2.00 0.40 1.00 0.20…
U.S. Natural Gas Demand Growth 12% 90 History Projections 10% 80 8% 70 Billion Cubic Feet per Day Percent Change 6% 60 4% 50 2% 40 0% 30 -2% 20 -4% 10 -6% 0 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002…
U.S. Energy Consumption by Fuel, 1970-2025 (quadrillion Btu) 60 Petroleum History Projections 50 40 Natural Gas 30 Coal 20 Nuclear 10 Nonhydro Renewables 0 Hydropower 1970 1980 1990 2000 2010 2025 Annual Energy…
U.S. Energy Production, Consumption, and Net Imports, 1960-2025 (quadrillion Btu) 140 History Projections 120 38% 100 Net Imports Consumption 27% 80 Production 60 40 20 0 1960 1970 1980 1990 2000 2010 2025…
World Oil Price, 1970-2025 (2003 dollars per barrel) 70 History Projections 60 History High B 50 Reference 40 30 20 10 0 1970 1980 1990 2000 2010 2025 Annual Energy Outlook 2005
U.S. Petroleum Supply, Consumption, and Net Imports, 1970-2025 (million barrels per day) 30 History Projections Reference 25 High B 20 Consumption 58% 68% Net Imports 15 56% High B 10 Production Reference 5 0 1960…
Natural Gas Wellhead Price, 1970-2025 (2003 dollars per thousand cubic feet) 6 History Projections 5 4 4.79 3 2 1 0 1970 1980 1990 2000 2010 2025 Annual Energy Outlook 2005
U.S. Natural Gas Production, Consumption, and Net Imports, 1970-2025 (trillion cubic feet) 30 History Projections 28% 25 Consumption Net Imports 20 15% Production 15 Natural Gas Net Imports, 2003 and 2025 7 6.4 6 2003 10…
Net U.S. Imports of Natural Gas, 1970-2025 (trillion cubic feet) History Projections 7 Liquefied Natural Gas 6 5 4 Canada 3 2 1 0 -1 Mexico 1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 2020 2025 Annual Energy…
Current U.S. LNG Import Terminals Everett, Massachusetts 3.5 Bcf Storage Capacity Regasification Capacity: Peak: 885 MMcf per day Lake Charles, Louisiana Baseload: 710 MMcf per day 6.3 Bcf Storage Capacity Regasification…
U.S. LNG Imports, 1990-2025 (trillion cubic feet) History Projections 4.5 New Terminals 4.0 3.5 3.0 2.5 2.0 Existing Terminals 1.5 1.0 0.5 0.0 1990 1995 2000 2005 2010 2015 2020 2025 Annual Energy Outlook 2005
Regional LNG Imports at New Terminals, 2010, 2015, 2020, and 2025 (billion cubic feet) 2010 114 128 2015 New 2020 England (2020) 2025 WA/OR West New England Mountain North Mid 256 Central Atlantic 128 East North (2020) 2008…
Minimum Regional LNG Trigger Prices (2003 dollars per thousand cubic feet) 5 Existing New 4 3 2 1 0 Everett Cove Elba Lake New Mid Atl. S. Atl. Florida MS/AL TX/LA CA WA/OR Point Island Charles Eng. production…
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