The Energy Information Administration’s just published it’s newest Annual Energy Outlook. According to their projections, it looks like the long-term decline in energy use will continue through at least 2035.
Here are some charts from the report.
First up: energy use per capita and per GDP.
Here’s how it looks relative to GDP.
The EIA cites four factors leading to the industry-wide downturn:
- Shift from energy-intensive manufacturing economy toward a less-intensive service economy
- Energy efficiency of freight vehicles
- Energy efficiency of personal vehicles
- Energy efficiency of household appliances
So, it looks like the energy players will have to adapt to survive.