of imported distillate from Russia and increased inventories . Warmer temperatures and the resulting decrease in demand over the past several months have increased distillate inventories in both Europe and the Northeast United States .
U . S . Energy Information Administration . Principal contributor : Kimberly Peterson
EIA PROJECTS U . S . ENERGY CONSUMPTION BY 2050
Consumption of all forms of energy increases in the United States between 0 % and 15 % from 2022 to 2050 in our Annual Energy Outlook 2023 ( AEO2023 ). Our projection of growth in U . S . energy consumption is the result of the effects of economic growth , population growth , and increased travel offsetting continued energy efficiency improvements .
In the AEO2023 , we explore long-term energy trends in the United States and present an outlook for energy markets through 2050 . We use different scenarios , or cases , to understand how varying assumptions affect energy trends . The AEO2023 Reference case serves as a baseline , or benchmark , case , reflecting laws and regulations adopted through mid-November 2022 , including the Inflation Reduction Act .
Combined energy consumption in four U . S . end-use sectors — industrial , transportation , residential , and commercial — includes primary energy consumption , electricity use , and electricity-related losses . Energy consumption in the industrial and transportation sectors are the most sensitive to changes in assumptions across cases , in percentage terms . In the industrial sector , energy consumption increases between 5 % and 32 % between 2022 and 2050 . In the transportation sector , energy consumption ranges from a decrease of 10 % between 2022 and 2050 to an increase of 8 %. Both sectors are heavily influenced by assumptions of economic growth ; as the economy grows , they consume more energy .
Increasing energy consumption , improving end-use and electric power sector technology and efficiency , and declining costs for zero-carbon generation technologies leads to cheaper electricity , which drives increased electrification in the end-use sectors in the AEO2023 Reference case and all side cases .
The share of U . S . electricity consumed in the residential and transportation sectors increases the most as demand for space cooling increases and electric vehicles gain a larger market share . Households in the U . S . residential sector purchased 5.1 quadrillion British thermal units ( quads ) of electricity in 2022 . Our projections of residential consumption of purchased electricity increase between about 14 % and 22 % from 2022 to 2050 across all cases , reaching between 5.9 quads and 6.3 quads . In 2022 , electric vehicles made up about a 6 %– 7 % share of the U . S . vehicle market . As we project adoption of EVs to increase , electricity purchased for transportation reaches between about 0.6 quads and 1.3 quads in 2050 , from 0.1 quads of purchased electricity in 2022 , about an 900 % to 2,000 % increase across all cases .
Our projection of electricity purchased in the industrial sector is most influenced by economic growth assumptions , increasing by about 3 % ( from 3.5 quads in 2022 to about 3.6 quads in 2050 ) in low economic growth cases and by about 36 % to 38 % ( to about 4.7 quads ) in high economic growth cases .
Principal contributor : EIA Staff
CRUDE OIL EXPORTS SET NEW RECORD
In 2022 , U . S . crude oil exports averaged 3.6 million barrels per day ( b / d ), a record high according to export data that has been collected since 1920 . U . S . crude oil exports in 2022 were 22 % ( 640,000 b / d ) higher than in 2021 . Increased U . S . crude oil production , releases from the U . S . Strategic Petroleum Reserve , and more global demand for crude oil from countries other than Russia all drove the growth in U . S . crude oil exports .
Since early 2022 , trade patterns have shifted because of Russia ’ s full-scale invasion of Ukraine and the ensuing Western sanctions of Russia ’ s crude oil exports . Prior to 2022 , OECD Europe had been the largest regional importer of Russia ’ s crude oil , receiving 2.3 million b / d from Russia in 2021 .
Less crude oil was exported to India and China from the United States in 2022 than in 2021 because the two countries imported more discounted crude oil from Russia . India was the largest export destination of U . S . crude oil exports in 2021 ; China had been in 2020 . Decreased demand for U . S . crude oil exports to India and China was more than offset by increased demand from other destinations , particularly in Europe .
Despite declines in exports to India and China , Asia and Oceania remained the regional destination receiving the most U . S . crude oil exports in 2022 , 43 % ( 1.55 million b / d ). Europe ranked a close second , at 42 % ( 1.51 million b / d ). Asia and Oceania is the region that has received the greatest volume of U . S . crude oil since 2017 , with Europe receiving the second-most since 2018 .
South Korea and the Netherlands each received more than 10 % of U . S . crude oil exports in 2022 . The UK received 9.6 %. Canada dropped to receiving the fourthmost U . S . crude oil exports for the first time since the end of the U . S . crude oil export ban in 2015 .
EU sanctions implemented in December 2022 that prohibit all seaborne imports of Russia ’ s oil to Europe make it likely that demand for U . S . crude oil will continue in 2023 . l FON
U . S . Energy Information Administration . Principal contributor : Alexander de Keyserling .
12 MAY 2023 | FUEL OIL NEWS | www . fueloilnews . com