Economic growth, low prices to lift U. S. oil and gas demand in 1995

Continuing US economic growth coupled with low energy prices will stimulate demand for petroleum and natural gas in 1995. Although the economic growth rate may slip from that of 1994, it will remain high enough to require further gains in energy consumption. Demand for petroleum products and natural gas should increase despite competition from other fuels and improving consumption efficiency. Boosting consumption of fossil fuel energy will be low output from the major renewable energy sources, nuclear and hydroelectric power. The paper discusses the US economy; total energy consumption; energy sources; US production; imports; refining; total oil product demand; motor gasoline demand; jet fuel distillate fuel, residual fuel oil, and other petroleum product demand; and natural gas.