The Offshore Energy We Need
Although the share of non-fossil fuels is growing rapidly, fossil fuels – oil, natural gas and coal – will continue to play leading roles through 2040
More total energy will be needed both in the United States and globally. The U.S. Energy Information Administration (EIA) forecasts U.S. energy demand will grow by 12 percent between 2012 and 2040, with more than 60 percent of the energy demand expected to be met by oil and natural gas, as is the case today. The United States is at the beginning of an energy revolution with domestic production reaching levels not seen in decades and our energy imports are falling. But in order to ensure our energy security and create economic growth it is vital that we take advantage of all of our energy resources, including those safely developed in American waters.
| 2012 | 2040 | ||||
|---|---|---|---|---|---|
| Consumption | Quads | %Share | Quads | %Share | %Change |
| Liquid Fuels and Other Petroleum | 35.87 | 37.7% | 35.35 | 33.3% | -1.4% |
| Oil | 34.65 | 36.5% | 33.86 | 31.9% | -2.3% |
| Ethanol, Biodiesel and Green Liquids | 1.22 | 1.3% | 1.49 | 1.4% | 22.1% |
| Natural Gas | 26.20 | 27.6% | 32.32 | 30.4% | 23.4% |
| Coal | 17.34 | 18.2% | 18.75 | 17.6% | 8.1% |
| Nuclear Power | 8.05 | 8.5% | 8.49 | 8.0% | 5.5% |
| Hydropower | 2.67 | 2.8% | 2.90 | 2.7% | 8.6% |
| Biomass and Renewables | 4.50 | 4.7% | 8.15 | 7.7% | 81.1% |
| Other** | 0.39 | 0.4% | 0.35 | 0.3% | -10.3% |
| Total | 95.02 | 100.0% | 106.31 | 100.0% | 11.9% |
| Oil and Natural Gas | 62.07 | 65.3% | 67.67 | 63.7% | 9.0% |
| Oil, Natural Gas and Coal | 79.41 | 83.6% | 86.42 | 81.3% | 8.8% |
**Other includes non-biogenic municipal solid waste and net electricity imports.