My initial reactions to AEO 2019, with charts and data:
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The most important high level point is that the US is poised to become a large net energy and fossil exporter post-2020. Note that the US will remain an OIL importer through 2050 in most scenarios, although the US may become a NET oil exporterpic.twitter.com/eDksIdLQzW
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A primary reason we are poised to become a net exporter in 2 years is because LNG exports are booming. 2019 is expected to see massive growth, with EIA projecting large (10%+ of domestic supply) LNG exports in all scenariospic.twitter.com/aCuXfNg9vZ
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In general, EIA's scenarios are worth looking through for the oil and gas sectors. The scenarios run provide a good mix of oil and gas pricespic.twitter.com/oiBqNOfCwx
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That said, EIA is projecting that US oil production peaks in the 2020s in most scenarios. Assuming climate policy, this may be true, but EIA isn't modelling that. A good reminder that even if shale is abundant, its has long term limitspic.twitter.com/HVYrNWik1Q
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Of course, shale remains key. Production in other areas is projected to decline in most (all?) scenarios. Note ANWR production is lost in the noise here...pic.twitter.com/WBXxvCMbcD
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Turning to electricity; the key result/assumption is that electricity demand growth is around 1% through 2050. Over 30 years, this increases load by a lot (more than 25%). As the chart shows, recent load growth has been near 0 despite robust economic growthpic.twitter.com/js0uSEEGvM
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Due to #BeneficialElectrification (eg: Electric vehicles and heat pumps) actual electricity demand growth will be much higher than EIA projects.
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