U.S. to rely less on oil for energy by 2035: government

Reuters
Tom Doggett and Ayesha Rascoe
Mon Dec 14, 2009 4:54pm

WASHINGTON (Reuters) - U.S. oil demand through 2035 is not expected to return to the peak levels reached before fuel consumption fell sharply due to high petroleum prices and the recession, the government's top energy forecasting agency said on Monday.

U.S. oil demand reached a high of 20.8 million barrels per day in 2005, and oil consumption is forecast to remain "near" its current level of about 19 million bpd through 2035, the Energy Information Administration said.

"We do not think it will go back to what previous levels have been," EIA Administrator Richard Newell said at a briefing on the agency's new long-term energy forecast.

Globally, crude oil demand is expected to grow 1 percent a year over the period to 2035, rising to 111.7 million bpd from this year's level of 84.5 million bpd, the agency said.

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