The EIA has forecast a paltry 0.9% annul growth rate for electricity generation through 2040.
It is a dismal forecast, where it assumes minuscule growth in industrial output.
While the usage of electricity has grown in the residential sector by 1.7% over the past decade, the major laggard has been the industrial sector where usage has declined.
There’s no reason to believe that residential usage will decline from 1.7%, even with the outlawing of incandescent bulbs, where lighting is a major residential usage of electricity: Population growth will offset these reductions.
The same can be said for the commercial sector where the recent growth rate has been 1.0%.
There is an obvious discrepancy between the EIA’s forecast and the effect the shale revolution will have on the cost of energy.
Low energy costs will make American industry more competitive in the world market.
The shift to natural gas from…
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