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The U.S. Is Set To Become A Major Net Energy Exporter
The latest Annual Energy Outlook from the Energy Information Administration suggests that the U.S. is on the cusp of becoming a major net energy exporter.
The biggest change in the natural gas trade is projected to be a surge in LNG exports:
LNG exports will drive the natural gas trade.
Coal-fired and nuclear power decline in every scenario, while new capacity additions are dominated by natural gas and renewables (primarily solar power). The share of solar power among renewables is forecast to rise from 13% in 2018 to 48% in 2050:
Electricity capacity additions and retirements.
Conclusions
The latest Annual Energy Outlook from the EIA models future energy projections under several scenarios. The U.S. is projected to become a major net energy exporter during the projection period as the U.S. shale revolution continues to deliver higher volumes of oil and natural gas. The power sector continues the trend in recent years of phasing out coal in favor of natural gas and renewables.
Robert Rapier is a seasoned chemical engineer with three decades of international experience in the energy sector. He holds undergraduate degrees in chemistry and mathematics, and a master’s in chemical engineering. Robert has worked extensively in oil refining, production, synthetic fuels, biomass energy, and alcohol production, earning several patents along the way. As Editor-in-Chief of Shale Magazine and a prolific author for Investing Daily, he shares his expertise through various newsletters and his latest book, American Energy: A History of Power, Progress, and Change. Robert's insights have been featured on 60 Minutes, The History Channel, CNBC, and PBS, among others. His articles have appeared in top publications like the Wall Street Journal, Washington Post, and The Economist. For nearly a decade, he has covered the energy sector for Forbes.
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