, higher equipment efficiency, and renewables deployment in the electric power sector. Emissions reductions are limited, however, by longer-term growth in U.S. transportation and industrial activity., along with a separate Issues in Focus paper that examines the impacts of the IRA, taking into account uncertainty around some of the policy provisions.
Technological advancements and electrification drive projected decreases to demand-side energy intensity . We project rising numbers of electric arc furnaces in the iron and steel industry, heat pumps, and electric vehicles. In the residential and commercial sectors, higher equipment efficiencies and stricter building codes extend ongoing declines in energy intensity. In the transportation sector, light-duty vehicle fuel efficiency improves due to rising Corporate Average Fuel Economy standards and electric vehicle sales.
High international demand leads to continued growth in U.S. production, and combined with relatively little growth in domestic consumption, allows the United States to remain a net exporter of petroleum products and natural gas through 2050 in all AEO2023 cases . Despite no significant change in domestic petroleum and other liquids consumption through 2040 across most AEO2023 cases, we expect U.S. production to remain historically high. Domestic natural gas consumption also remains relatively stable, despite a shift in electricity generation towards renewables. Natural gas production, however, continues to grow in response to international demand for liquefied natural gas.
Source: Energy Industry News (energyindustrynews.net)
Robotbeat That should go negative or at least into zero. 60% level is not even remotely enough. As a minimum, co2 stays in atmosphere thousands of years. Based on historic data, hundreds of thousands, and we have destroyed most of natural co2 sinks.
Robotbeat The forecast predicts that we just give up in 2030?
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