American Petroleum Institute (API) just released their Energy IQ survey, and the results show that Americans are more aware of how current policies affect domestic oil and natural gas production. In terms of demand, the study found that many continue to underestimate the amount of oil that we need in the future.
- While the U.S. Energy Information Administration (EIA) projects U.S. energy demand will increase 9 percent during the next 20 years, only 5 percent of respondents chose the correct answer. The majority overestimated this number, believing that U.S. demand would increase 16 to 21 percent.
- When asked about the role fossil fuels such as oil, natural gas and coal will play in meeting global energy demand, only 10 percent of respondents answered correctly that fossil fuels will meet 85 percent of this demand. This is the second consecutive year this number has dropped even though EIA figures for future U.S. reliance on fossil fuels have risen by five percent since 2008.
The other particularly intriguing statistic is that many Americans overestimate the amount of oil that we receive from Persian Gulf nations and underestimate the amount of oil that we receive here in North America. Canada is one of the largest oil suppliers to the United States.
The statistics are interesting, and you can even test your own energy knowledge by taking the survey.
Since this is a two-part series looking into the Energy IQ, I will focus more tomorrow onto how Americans view the oil industry and taxes, as well as sharing a video asking everyday people about their views on energy.
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