The American Petroleum Institute (API) has issued that organization’s annual State of American Energy report and it includes a discussion of electric power, including renewable energy by API President and CEO Jack Gerard.
The American Wind Energy Association (AWEA) noted Jan. 6 that this is the first year that the petroleum trade group has talked about wind power in its annual energy report.
“The United States is in the midst of a new era in domestic energy abundance characterized by rising use of renewable energy and increased oil and natural gas production that is strengthening our economic outlook and enabling America to emerge as a global energy superpower,” Gerard said in the introduction to the report.
Today, different sectors of the economy rely on certain forms of energy. Transportation is largely fueled by oil, while electricity generation is powered by coal, nuclear, natural gas and renewables, API said in the report.
The API report includes sections on wind, solar, hydro, geothermal, biomass, nuclear energy, coal power and natural gas for electric generation. The report calls energy efficiency an “American success story.”
Despite the growth in alternate sources of energy, fossil fuels will continue to be the chief source of energy in the United States, Gerard said in a Washington, D.C. speech that accompanied the report.
Oil accounted for 37% of U.S. energy consumption in 2012; followed by natural gas at 28%; coal at 18%; renewable energy 9% and nuclear power 8%. Based on Energy Information Administration (EIA), API expects that in 2040 oil will account for 32%; natural gas 30%; coal 18%; renewable energy 12% and nuclear power 8%.
The API report says that nuclear power generates 63% of the carbon-free electricity in the United States. The API report also notes that hydropower is the nation’s largest source of renewable electricity – with 80 GW of conventional hydro and 20 GW of pumped storage.
On the transportation front, API is pushing for approval of the Keystone XL pipeline, a measure which President Obama might veto if passed by the Republican-controlled Congress.