According to the latest forecasts from the Department of Energy in its latest Annual Energy Outlook, the fossil fuel (coal, natural gas and oil) share of energy consumption will fall only slightly in the future, from 83 percent of total U.S. energy demand in 2010 to 77 percent in 2035 (see chart). On the other hand, the future of renewables is not looking so bright, in terms of its future contribution to America’s energy demand. In 2010, renewables (wood, municipal waste, biomass, and hydroelectricity in the end-use sectors; hydroelectricity, geothermal, municipal solid waste, biomass, solar, and wind for generation in the electric power sector; and ethanol for gasoline blending and biomass-based diesel in the transportation sector), contributed only about 7% of U.S. energy consumption, and that was less than the 8.9% share back in 1983. Even by 2035, more than twenty years from now, renewables as a fuel source are expected to provide less than 11% of total energy demand.
Bottom Line: The scientific and economic reality (and even the government’s own forecasts support this) is that affordable and reliable hydrocarbons will continue to be the major source of energy that will fuel America’s economy well into the future, despite Obama’s embrace of alternative energies as the “energies of the future,” and his dismissal of oil as a “fuel of the past.” Hydrocarbon energy is America’s future, and it’s the energy treasures beneath our feet that will continue to power the U.S. economy for many generations to come.