Terri
01-10-2003, 12:43 AM
By Gregg Bish
GOPUSA News
January 10, 2003
HOUSTON, TX. (GOPUSA News) -- The U.S. Department of Energy (DOE) released its annual forecast of U.S. energy market demand data Thursday and indicated that it expects the energy market to be "dependent on oil prices, economic growth, consumer behavior and rate of technological improvement" as the world demand for oil changes through 2025.
Citing current expectations in a number of factors, the DOE's Energy Information Administration (EIA) expects U.S. imported oil demand to grow from its current level of 55% to between 65% and 70% of consumption by the end of the forecast period.
In its Annual Energy Outlook 2003 (AEO2003), the EIA speculated that world crude oil prices could lie in a range between $19.00 US and $33.00 U.S. in real 2001 dollars. Applying a historical model of 3% annual inflation, this would peg world crude prices at between $36.41 and $63.23 in inflated future dollars.
Full Story (http://gopusa.com/news/2003/january/0110_energy_markets. shtml)
GOPUSA News
January 10, 2003
HOUSTON, TX. (GOPUSA News) -- The U.S. Department of Energy (DOE) released its annual forecast of U.S. energy market demand data Thursday and indicated that it expects the energy market to be "dependent on oil prices, economic growth, consumer behavior and rate of technological improvement" as the world demand for oil changes through 2025.
Citing current expectations in a number of factors, the DOE's Energy Information Administration (EIA) expects U.S. imported oil demand to grow from its current level of 55% to between 65% and 70% of consumption by the end of the forecast period.
In its Annual Energy Outlook 2003 (AEO2003), the EIA speculated that world crude oil prices could lie in a range between $19.00 US and $33.00 U.S. in real 2001 dollars. Applying a historical model of 3% annual inflation, this would peg world crude prices at between $36.41 and $63.23 in inflated future dollars.
Full Story (http://gopusa.com/news/2003/january/0110_energy_markets. shtml)