The nation will be more energy independent in the future as it boosts its production of oil, natural gas and renewable power such as solar and wind, the U.S. government predicted. Domestic crude oil production is expected to jump more than 20% in the coming decade, from 5.5 million barrels per day in 2010 to 6.7 million barrels per day in 2020 – a level not seen since 1994, according to an annual forecast released by the U.S. Energy Information Administration. Also, U.S. production of natural gas is projected to increase so much that it will exceed consumption early in the next decade. Renewables will take off, too, accounting for 16% of the U.S. electric supply in 2025 – up from 10% today. As a result, the U.S. will import less energy. Net imports will account for 13% of total energy consumption in 2035, down from 22% in 2010. “These projections reflect increased energy efficiency throughout the economy…and projected slow economic growth,” EIA’s Acting Administrator Howard Gruenspecht said. [Read this article]

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