World energy consumption will grow by 56 percent between 2010 and 2040. Global natural gas consumption will grow by 1.7 percent per year and will be the fuel stock for about a quarter of the world’s electricity by 2040. Overall, fossil fuels will continue to supply almost 80 percent of world energy use through 2040. The US has the potential to meet that global demand – in addition to its own domestic energy needs.
The US will become the world’s largest producer of crude oil by 2020 – for a time surpassing Saudi Arabia and Russia. I also predict that by 2035 the US will be close to energy self-sufficiency.
Domestic gas supply has shifted just as dramatically and the United States is at the forefront of leading this revolution.