BP LLC has released its forecast for global energy trends through 2035 indicating that the U.S. will achieve its domestic energy policy goal by that time, National Journal reported Wednesday.
Clare Foran writes liquefied natural-gas export is expected to rise while oil imports will decrease by 75 percent due to increases in domestic production of oil and gas.
Christof Ruehl, BP chief economist, predicts that the U.S. will become a major exporter in the energy market within three years, according to the report.
The forecast projects U.S. carbon emissions to drop by 6 percent while fossil-fuel energy will spur an increase in global carbon dioxide levels by nearly 30 percent by the end of 2035, the report says.
Foran writes fossil fuel demands will fall from 85 percent to 80 percent by 2035 and renewable energy will represent 8 percent of the energy mix in the U.S.