U.S. forecasts natural gas boom through 2040

Posted on December 16, 2013 by Nanthakumar Victor Emmanuel, P.Eng Leave a comment

America’s energy boom will continue for decades, and natural gas will replace coal as the largest source of U.S. electricity by 2040, the Department of Energy forecast today.

U.S. production of crude oil will increase through 2016, when it will approach the record set in 1970, before leveling off and then slowly declining after 2020. Natural gas production will grow steadily, jumping 56% from 2012 to 2040, according to an early release of an annual report by DOE’s Energy Information Administration.