Energy Information Administration forecasts record energy production for the US
The U.S. Energy Information Institute has released a new report concerning the country’s energy production through 2040. Several reports from other organizations throughout the country have suggested the energy production within the U.S. will grow very slowly over the next several years. According to the Energy Information Administration report, however, energy production in the U.S. is set to hit record highs within the next few years, largely due to the support the federal government has been throwing into alternative energy.
Energy consumption of foreign fossil-fuels expected to drop
The report highlights energy imports for the year of 2011. According to the report, energy imports for the U.S. during 2011 accounted for approximately 19% of the country’s total consumption. These imports include oil from the Middle East, as well as elsewhere around the world. The Energy Information Administration claims that energy imports will drop to only 9% in 2040 as the U.S. becomes more reliant on alternative energies, such as solar and wind power.
Domestic forms of energy gain more support
The report notes that the U.S. plans to invest more heavily in domestic forms of energy, including locally produced oil, coal, and natural gas. The federal government will also be making more use of solar energy, especially along the West Coast, where such energy systems have already established a strong foothold. More support for offshore wind energy systems is slated for the future, which could further help the country break away from its use of fossil-fuels from foreign countries.
Energy exports may net the US more income
The Energy Information Administration report also highlights the fact that the federal government continues to search for ways to profit from energy exports. The report suggests that the country will become a net energy exporter by 2016, as the U.S. becomes more secure in its various energy projects. If the U.S. does indeed become a major net energy exporter, the nation is expected to see a major spike in its revenue generation capabilities.