Tuesday, January 7, 2014

Gas prices to drop, solar to rise, feds say

The Energy Information Administration's new short-term energy outlook forecasts some interesting trends through 2015. Some bullet points from administrator Adam Sieminski:

-- Gasoline prices are expected to trend downward over the next two years, averaging $3.46 per gallon in 2014 and $3.39 per gallon in 2015, as U.S. crude oil production grows and crude prices fall.

-- U.S. crude oil production could set a record in 2015 with the highest output since 1972. Production is projected to rise by 1 million barrels a day this year to 8.5 million barrels, and then rise to 9.3 million barrels per day in 2015. Imports would drop to 24 percent of total liquid fuels consumption, the lowest level since 1970.

-- Onshore natural gas production will continue increasing over the next two years, with the Marcellus Shale of eastern North America offsetting declines in the Gulf of Mexico.

 -- Average household electricity use is expected to decline 1.1 percent this year and another 0.4 percent in 2015 due to improved appliance and lighting efficiency. Dropping household use will be offset by increased demand from industries.

-- U.S. wind power capacity is forecast to increase 8.8 percent this year and 15 percent in 2015. But utility-scale solar capacity is expected to zoom up 40 percent between now and the end of 2015.

3 comments:

sathyam shonkho said...

Employment opportunity in drilling occupation at Prodigy Oil and Gas Company is massive. Oklahoma is all about oil and natural gas. Unemployment rate is way below than national average, and it’s because of this industry.

kristahiles said...

Absolutely employment is going to rise due to solar generation rise. It is also good at one end; as the resources will be saved due to this

malik aayan said...

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