Natural gas is replacing oil in the U.S
By Bloomberg
Natural gas could replace oil as the key energy source in the U.S. At least that's what the chart below, from Torsten Slok, chief international economist for Deutsche Bank, seems to suggest.
Source: Deutsche Bank
Over the past decade, natural gas consumption has increased from 22 percent to 27 percent of U.S. energy use and nearly all of that gain has come at the expense of petroleum consumption. It isn't that hard to figure out why: Natural gas is cleaner, cheaper and abundant in the U.S. Natural gas is also easier to transport thanks to a system of domestic pipelines.
If the trend continues (and that's a big if), then sometime in the next decade, natural gas consumption should surpass oil.
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