US growing oil capacity could alter geopolitics
Sep 25, 2016
<< Consumption remains critical to market health. Petroleum use, including natural gas liquids, rises four percent, yet transportation use falls 10 percent, primarily due to improved light-duty vehicle fuel efficiency. Global energy use is projected to increase an average 1.4% per year, from 549 quadrillion Btu in 2010 to 815 quadrillion Btu in 2040. The EIA further emphasized that over the next three decades, though natural gas would turn out to be the dominant energy source, yet renewables will turn out to be the fastest-growing. >>
Syed Rashid Husain While the energy world remained focused on Algiers and its possible outcomes, the Energy Information Agency (EIA), the statistical arm of the US Department of Energy (DOE), came out with early warning shots – the US would continue to be less and less dependent on imported energy in the decades to come.