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The Industry Today

The current and future direction of the energy industry is directly related to the demand for power and energy in the country. The Energy Information Administration’s (EIA) report Annual Energy Outlook 2018 projected that the demand for energy will grow by 0.4 percent/year through 2050. Electricity generation is predicted to increase at a conservative rate per year, yet energy consumption per capita will actually decline each year from 2017 to 2050 thanks to improved and more efficient technology and reduced use by consumers. Keep in mind, however, that the EIA’s projections assume there will be no further major changes in environmental and government regulations during this time. The Trump administration’s emphasis on energy independence and its recent moves toward environmental and energy industry deregulation have created considerable uncertainty in the energy industry. Predictions about short- and long-term prospects about energy supply and demand should be considered likely to change. 

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