LP Gas, August 2017
PROPANE INDUSTRY NUMBERS Fossil fuel consumption declines in recent years but not out F or more than 100 years fossil fuels have provided more than 80 percent of total U S energy consumption according to the U S Energy Information Administration EIA Since 1928 the three fossil fuels petroleum natural gas and coal have been the most consumed fuels in the U S EIA says Though fossil fuels continue to be the dominant U S energy source they have seen a marked drop in consumption in the last year In 2016 fossil fuels accounted for 81 percent of total U S energy consumption the lowest fossil fuel share in the past century EIA says This does not however spell disaster for fossil fuels The decline in fossil fuel consumption is due largely in part to Energy consumption in the United States 1776 2016 quadrillion British thermal units 45 40 35 30 25 20 15 10 5 0 1776 1850 1900 1950 2016 petroleum coal biomass hydroelectric natural gas nuclear other renewables Source U S Energy Information Administration Despite the fact that petroleum and natural gas saw marked increases in consumption over the past few years fossil fuel consumption is down largely in part to the recent drop off in the usage of coal the decline in coal usage Despite increases in petroleum and natural gas usage coal consumption fell nearly 9 percent in 2016 following a 14 percent drop in 2015 according to EIA Overall U S coal consumption has declined about 38 percent in the last decade EIA reports The decrease in the use of fossil fuels is also attributed to the increase in the use of renewable energy In 2016 fossil fuel consumption was the lowest is has been in a century This does not however spell disaster for fossil fuels sources In 2016 the renewable share of energy consumption in the U S was 105 percent according to EIA The greatest growth in renewables over the past decade has been in solar and wind electricity generation EIA says Despite the marked increase in renewable energy consumption and the decrease of coal as an energy source fossil fuels still come out on top Petroleum and petroleum based fuels such as propane continue to be the largest source of energy consumption in the United States according to EIA Crude oil price averages through 2018 EIA is forecasting Brent crude oil spot prices to average 51 per barrel in 2017 and 52 per barrel in 2018 West Texas Intermediate crude oil prices are expected to be 2 per barrel lower than Brent prices in 2017 and 2018 Daily and monthly average prices could vary significantly from this forecast EIA reports because global economic developments and geopolitical events in the coming months have the potential to push oil prices higher or lower than the current Short Term Energy Outlook price forecast 32 LPGas August 2017 www LPGasmagazine com ISTOCK COM MALEXEUM
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