Last week, Exxon released the U.S. edition of its 2040 outlook.
The big news is that while North America will soon be a net exporter of energy, the U.S. will not. And the continent won’t get there without Canada’s oil sands.
Cars will become incredibly fuel efficient your car could become. And while U.S. industrial energy demand will fall, commercial demand will rise.
We’ve pulled the key charts from the report.
Commercial demand is expected to rise by more than 10 per cent from 2010 to 2040 because of an expected increase in commercial square footage.
Even as North American steel, chemical and fertiliser production grows, industrial consumption will decline by about 5 per cent from 2025 to 2040 thanks to improved efficiencies.
Transport fuel demand will tumble as the average fuel economy of new US vehicles rises to about 45 mpg — about twice the 22 mpg level in 2010.
About 85 per cent of electricity will likely come from natural gas, nuclear and renewable fuels in 2040, compared to about 50 per cent in 2010.
Consumption of natural gas is projected to rise by more than 25 per cent through 2040. By then it will satisfy nearly one-third of America's energy needs.
Production of oil and other liquid fuels is projected to rise by 35 per cent from 2010 to 2040, reaching about 12 million barrels per day.
By 2040, North America will have the opportunity to export about 15 per cent of its natural gas production and about 5 per cent of its oil production.
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