Natural Gas Nation: EIA Sees U.S. Future Shaped By Fracking
The U.S. government energy outlook sees broad impact of new oil and gas abundance. Renewable energy captures a small future share without policy or technological change.
The U.S. Energy Information Administration (EIA) on Wednesday released projections that affirmed the trend already tracked by numerous private forecasters and the International Energy Agency: The growth of U.S. energy production, particularly oil and natural gas, will far outstrip the rise in demand, slashing imports and moderating prices for consumers. But in table after table of numbers, the government's energy analysts detail for the first time the widespread impact of the new abundance—especially the changes due to natural gas from hydraulic fracturing, or fracking.
EIA anticipates the production boom from Texas to Pennsylvania will ripple through every segment of the economy. But the projections, based entirely on U.S. government policy now in place and assuming no technological breakthroughs, see more