The EIA (Energy Information Administration) is an independent agency that provides energy statistics for the US Government. Their website provides access to a comprehensive range of energy information and statistics covering: petroleum, natural gas, coal, nuclear, electricity, renewable and alternative fuels. The agency produces annual, monthly and summary reviews for most energy types. The latest short-term energy outlook is now available. Highlights include:
The global economic contraction continues to depress energy demand.
Global Crude Oil and Liquid Fuels: The global oil market has remained relatively stable since the beginning of the year and this is expected to continue until economic recovery in the US and elsewhere leads to a rebound in oil demand growth. Average annual world oil consumption for 2009 is projected to decline by almost 1.4 million barrels per day (bbl/d), with consumption in the OECD falling by 1.6 million bbl/d. World GDP growth (oil consumption weighted) is assumed to decline by 0.8% followed by growth of 2.6% in 2010. Non-OPEC supply is expected to remain fairly flat over the next 2 years. The llargest sources of growth over the forecast period are the United States, Brazil, and Azerbaijan, offset by large declines in production in Mexico, the North Sea, and Russia.
Natural Gas: Total natural gas consumption is projected to decline by 1.3% in 2009. The outlook for continued economic weakness in 2009 is expected to take its greatest toll on industrial sector natural gas consumption, which is expected to decline by about 6% this year. The pace and extent of economic recovery in 2010 are the primary factors influencing the natural gas consumption forecast next year, particularly for industrial users. Based on the current economic assumptions for 2010, slight growth in the industrial sector and 2-percent growth in the electric power sector are balanced by declines in the residential and commercial sectors because of projected milder winter temperatures
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Picture from Creative Commons: Flickr: youngrobv (Rob & Ale)