On Tuesday, March 18, 2014, the Center for Energy Studies and the Grow Louisiana Coalition hosted “Energy Outlook 2035: The Global Energy Industry and Its Impact on Louisiana.” The featured speaker was industry analyst Mark Finley, general manager, Global Energy Markets & U.S. Economics, BP. Panelists were: James Richardson, Director, LSU Public Administration Institute; Gifford Briggs, Louisiana Oil & Gas Association; Chris John, President, Louisiana Mid-Continent Oil and Gas Association; and David Dismukes, Associate Director and Professor, LSU Center for Energy Studies.
In his address, Finley explained that U.S. gas production would increase by 45 percent between 2012 and 2035, with shale gas production increasing an average of 4.3 percent during that time. The current boom means the U.S. will become a net exporter of liquefied natural gas in 2016.
His energy outlook included a prediction that oil would continue to serve as the primary transportation fuel through 2035; however, full hybrid vehicles will likely account for 24 percent of auto sales, and “mild” hybrids (internal combustion engines equipped with an electric machine), will account for 38 percent.
Finley’s prediction regarding renewable energy sources, including biofuels, is an increase from 2 percent to 7 percent, surpassing that of nuclear power by 2025 and attaining the same level as hydro by 2035.
Coal will remain king for non-Organisation for Economic Cooperation and Development Countries through 2035, but for North America, the EU, and China, natural gas will serve as the primary power source.
View or download the presentation here.