LNG has emerged as the cleaner burning alternative to heavier fossil fuels like coal and petroleum. While coal and petroleum still provide the vast majority of the world's energy needs, the two fossil fuels are expected to diminish significantly in the coming decades with US LNG exports expected to increase exponentially.
Currently, the US Energy Information Administration (EIA) reports that the three major fossil fuels - LNG, coal and petroleum - still account for the majority of domestic energy consumption in the form of electricity, heat and transportation fuels. The EIA pie chart below shows that the three fossil fuels account for 81 percent of current US energy needs with nuclear and renewables at 19 percent. However, the coal and petroleum portions of the pie have been decreasing in the face of rising LNG production and growth of renewables.
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Petroleum and coal will continue to shrink as natural gas and renewables grow.
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On a final note, it feels great to return sharing fresh enerbytes again. Thank you for reading. Happy Holidays, everyone!
