Energy Department Forecasts Natural Gas Boom
The federal government predicts that America’s natural gas production will continue to escalate for decades to come. “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,” writes Wendy Koch in USA Today.
Just as Boone Pickens predicted, America’s abundant energy resources are creating a completely different economic outlook for the U.S. Natural gas is on track to replace coal as the country’s leading source of electric power, and crude oil production will soon exceed the record level set in 1970.
“Advanced technologies for crude oil and natural gas production are continuing to increase domestic supply and reshape the U.S. energy economy as well as expand the potential for U.S. natural gas exports,” Adam Sieminski, EIA Administrator, said in releasing the Annual Energy Outlook 2014.
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