The U.S. could become a major exporter of energy by 2026, if not sooner, as natural gas production increases and electricity demand flattens in the coming years, according to the U.S. Energy Information Administration’s (EIA) latest Annual Outlook released this week.
The report also projects that renewables will grow faster than any other power source over the next three decades. But while electricity-related CO2 emissions are expected to fall as natural gas, wind, and solar increasingly power the grid, industrial and transportation emissions will likely increase. As a result, the EIA said, the country will not significantly reduce its greenhouse gas emissions and meet its pledges under the Paris Climate Agreement. Energy-related CO2 emissions fell an average 1.4 percent annually from 2005 to 2016. But according to the EIA report, that annual decline will likely average only 0.2 percent between 2016 and 2040.