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Posted February 20, 2020 Today in Energy

EIA projects U.S. energy intensity to continue declining, but at a slower rate ›

EIA’s recently released Annual Energy Outlook 2020 (AEO2020) projects that U.S. energy consumption will grow more slowly than gross domestic product (GDP) through 2050 as energy intensity continues its decades-long trend of decline through the AEO2020 forecast period. Energy intensity is a measure of how efficiently the economy uses energy to produce every dollar of GDP. In the AEO2020 Reference case, total U.S. energy consumption increases at an average annual rate of 0.3% between 2019 and 2050, and GDP grows at an annual rate of 1.9%, which indicates a 1.5% average annual decline in energy intensity during the projection period. By 2050, the domestic energy consumption associated with each dollar of U.S. economic growth is less than half of what it was in 2005. More

total energy consumption

Source: EIA, Annual Energy Outlook 2020

Data Highlights

WTI crude oil futures price

2/19/2020: $53.29/barrel

up$2.12 from week earlier
down$2.80 from year earlier

Natural gas futures price

2/19/2020: $1.955/MMBtu

up$0.111 from week earlier
down$0.707 from year earlier

Weekly coal production

2/15/2020: 11.415 million tons

down0.359 million tons from week earlier
down3.132 million tons from year earlier

Natural gas inventories

2/14/2020: 2,343 Bcf

down151 Bcf from week earlier
up613 Bcf from year earlier

Crude oil inventories

2/14/2020: 442.9 million barrels

up0.4 million barrels from week earlier
down11.6 million barrels from year earlier