Supply, Disposition, and Prices

1998

2005

2010

Reference

Accelerated Depletion

Accelerated Depletion

Reference

Accelerated Depletion

Accelerated Depletion

Low World Oil Price

High World Oil Price

Low World Oil Price

High World Oil Price

Lower 48 Average Wellhead Price¹

(1998 dollars per barrel)

11.60

20.12

20.11

14.43

23.73

20.65

20.65

14.39

25.89

Production²

  U.S. Total

6.25

5.29

5.25

4.93

5.42

5.27

5.04

4.68

5.30

     Lower 48 Onshore

3.60

2.93

2.94

2.65

3.12

3.01

2.95

2.66

3.25

        Conventional

2.87

2.33

2.34

2.13

2.43

2.39

2.34

2.24

2.43

        Enhanced Oil Recovery

0.73

0.60

0.60

0.52

0.68

0.62

0.62

0.42

0.82

     Lower 48 Offshore

1.47

1.39

1.34

1.33

1.33

1.44

1.27

1.22

1.23

     Alaska

1.18

0.96

0.96

0.95

0.97

0.82

0.82

0.79

0.82

Net Crude Imports

8.60

10.71

10.77

11.12

10.65

11.35

11.57

12.20

11.31

Total Crude Supply

14.89

15.99

16.01

16.05

16.07

16.61

16.61

16.88

16.61

Natural Gas Plant Liquids

1.76

1.78

1.76

1.76

1.79

2.07

2.03

2.03

2.07

Other Inputs³

0.25

0.27

0.27

0.24

0.31

0.29

0.29

0.25

0.37

Refinery Processing Gain⁴

0.89

1.02

1.02

0.92

1.09

1.11

1.10

0.97

1.19

Net Product Imports⁵

1.17

1.98

1.99

2.68

1.51

2.38

2.41

3.20

1.81

Total Primary Supply⁶

18.95

21.05

21.07

21.64

20.77

22.47

22.46

23.33

22.04

Refined Petroleum Products Supplied

  Residential and Commercial

1.06

1.05

1.05

1.11

1.02

1.03

1.03

1.11

0.98

  Industrial⁷

4.80

5.29

5.29

5.28

5.27

5.54

5.54

5.56

5.48

  Transportation

12.54

14.43

14.43

14.59

14.35

15.74

15.71

15.95

15.54

  Electric Generators⁸

0.54

0.33

0.34

0.69

0.17

0.20

0.22

0.74

0.07

    Total

18.94

21.09

21.11

21.68

20.80

22.51

22.50

23.36

22.07

Discrepancy⁹

0.01

-0.05

-0.05

-0.04

-0.04

-0.04

-0.04

-0.03

-0.03

L48 End Year Reserves (billion barrels)²

18.16

14.46

14.12

13.31

14.55

13.98

13.39

12.19

14.39

¹Represents lower 48 onshore and offshore supplies.
²Includes lease condensate.
³Includes alcohols, ethers, petroleum product stock withdrawals, domestic sources of blending components, and other hydrocarbons.
⁴Represents volumetric gain in refinery distillation and cracking processes.
⁵Includes net imports of finished petroleum products, unfinished oils, other hydrocarbons, alcohols, ethers, and blending components.
⁶Total crude supply plus natural gas plant liquids, other inputs, refinery processing gain, and net petroleum imports.
⁷Includes consumption by cogenerators.
⁸Includes all electric power generators except cogenerators, which produce electricity and other useful thermal energy. Includes small power producers and exempt wholesale generators.
⁹Balancing item. Includes unaccounted for supply, losses and gains.
Note: Totals may not equal sum of components due to independent rounding.
Source: Energy Information Administration, Office of Integrated Analysis and Forecasting, National Energy Modeling System runs OGBASE.D051200A, OGDEPL.D051200A, OGLWOP.D051200A, and OGHWOP.D051200A.