Short-term energy outlook. Quarterly projections, third quarter 1996 Page: 8 of 55
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Table HL1. U.S. Energy Supply and Demand Summary
Price Year Annual Percentage Change
Case' 1994 1995 1996 1997 1994-1995 1995-1996 1996-1997
Real Gross Domestic Product (GDP)
(billion chained 1992 dollars) .b.................. Mid 6604 6739 6883 6993 2.0 2.1 1.6
Imported Crude Oil Price Low 17.07 15.00 -0.5 -12.1
(nominal dollars per barrel).........................Mid 15.52 17.15 18.52 18.00 10.5 8.0 -2.8
High 19.96 21.00 16.4 5.2
Petroleum Supply
Crude Oil Production Low 6.33 5.89 -3.5 -7.0
(million barrels per day) ...........................Mid 6.66 6.56 6.39 6.16 -1.5 -2.6 -3.6
High 6.44 6.39 -1.8 -0.8
Total Petroleum Net Imports Including SPR) Low 8.65 9.54 9.6 11.1
(million barrels per day) ........................... Mid 8.05 7.89 8.55 9.11 -2.0 8.4 6.5
High 8.46 8.74 7.2 3.3
Energy Demand
World Petroleum.................................Mid 68.6 69.9 71.8 73.5 1.9 2.7 2.4
Petroleum Low 18.13 18.52 2.3 2.2
(million barrels per day) ...........................Mid 17.72 17.72 18.10 18.35 0.0 2.1 1.4
High 18.06 18.21 1.9 0.8
Natural Gas Low 22.31 22.63 3.1 1.4
(trillion cubic feet)................................Mid 20.75 21.64 22.33 22.71 4.3 3.2 1.7
High 22.36 22.78 3.3 1.9
Coal
(million short tons) ...............................Mid 945 959 969 983 1.5 1.0 1.4
Electricity (billion Idlowatthours)
Utility Sales ................................. Mid 2935 3009 3086 3121 2.5 2.6 1.1
Nonutility Own Use ............................ Mid 150 156 160 163 4.0 2.6 1.9
Total ...................... ................. Mid 3085 3165 3245 3284 2.6 2.5 1.2
Adjusted Total Energy Demand'
(quadrillion Btu) ........................... Mid 88.5 90.8 92.8 93.6 2.6 2.2 0.9
Adjusted Total Energy Demand per Dollar of GDP
(thousand Btu per 1992 Dollar)......................Mid 13.40 13.47 13.48 13.38 0.5 0.1 -0.7
Renewable Energy as Percent of Total ................ Mid 7.2 7.6 7.7 7.3
"Refers to the imported cost of crude oil to U.S. refiners assumed for the scenario depicted. In all cases on this table, the mid macroeconomic case and normal
weather are used.
bin accordance with the January 1996 revisions of the National Income and Product Accounts by the Bureau of Economic Analysis, macroeconomic measures have
been changed from fixed-weighted to chain-weighted, and base year has been changed from 1987 to 1992.
Includes lease condensate.
"Total annual electric utility sales for historical periods are derived from the sum of monthly sales figures based on submissions by electric utilities of Form EIA-826,
"Monthly Electric Utility Sales and Revenue Report with State Distributions." These historical values differ from annual sales totals based on Form EIA-861, reported In
several EIA publications, but match altemate annual totals reported in EIA's Electric Power Monthly, DOE/EIA-0226.
'Defined as the difference between total nonutility electricity generation and sales to electric utilities by nonutility generators, reported on Form EIA-867, "Annual
Nonutility Power Producer Report." Data for 1995 are estimates.
'The total energy demand concept shown here is that presented as total consumption in Energy Information Administration, Annual Energy Review 1994 (AER),
DOE/EIA-0384(94), Table 1.1. The conversion from physical units to Btu is calculated using a subset of conversion factors used in the calculations performed for gross
energy consumption in Energy Information Administration, Monthly Energy Review (MER). Consequently, the historical data may not precisely match those published in
the MER or the AER.
SPR: Strategic Petroleum Reserve.
Notes: Minor discrepancies with other published EIA historical data are due to independent rounding. Historical data are printed In bold, forecasts are In italic. The
forecasts were generated by simulation of the Short-Term Integrated Forecasting System.
Sources: Historical data: Energy Information Administration, Monthly Energy Review, DOE/EIA-0035(96105); Petroleum Supply Monthly, DOE/EIA-0109(96/05);
Petroleum Supply Annual 1995, DOE/EIA-0340(95)/2; Natural Gas Monthly, DOEIEIA-0130(96/05); Electric Power Monthly, DOE/EIA-0226(96/06); and Quarterly Coal
Report, DOE/EIA-0121(95/30). Macroeconomic projections are based on DRI/McGraw-Hill Forecast CONTROLO596.Energy Information Administration
Short-Term Energy Outlook, Third Quarter 19962
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Short-term energy outlook. Quarterly projections, third quarter 1996, report, July 1, 1996; Washington D.C.. (https://digital.library.unt.edu/ark:/67531/metadc665842/m1/8/: accessed May 5, 2024), University of North Texas Libraries, UNT Digital Library, https://digital.library.unt.edu; crediting UNT Libraries Government Documents Department.