Adam Sieminski, Administrator of the U.S. Energy Information Administration

June 28, 2016

The United States is making progress toward energy independence, driven by booming production of shale natural gas which is projected to rise 50 percent by 2040, according to the U.S. Energy Information Administration's (EIA) Annual Energy Outlook 2016. EIA Administrator Adam Sieminski previewed the soon-to-be-released report at a presentation hosted by the Johns Hopkins SAIS Energy, Resources and Environment program and the Bernard Schwartz Forum on Constructive Capitalism.

The Annual Energy Outlook report analyzes industry trends and makes long term projections on energy supply, demand, and prices. Sieminski shared his key takeaways in the 2016 data, most notably that the U.S. will become a net exporter of natural gas by mid-2017.

Acknowledging the complexity of predicting oil prices, Sieminski said the 2016 report projects even lower oil prices of $25 to $80 per barrel for the next year. Increasing domestic oil production combined with higher fuel efficiency is expected to drive down imports from 24 percent of supply in 2015 to 19 percent of supply by 2040, Sieminski said.