Natural gas consumption could grow by as much as 31 percent over the next five years—but only if the price of the plentiful commodity remains steady, according to a story from Oilprice.com.
According to the Center for Energy Economics at the University of Texas, consumption of could rise by between 19 and 31 percent in the five-year timeframe, thanks to a full slate of natural gas-intensive industrial projects being built in the United States. Those consumption estimates are higher than the predictions put out by the U.S. Energy Information Administration, Oilprice.com said.
But as the story points out, the flurry of construction is "essentially a massive bet on natural gas prices staying low."
U.S. firms have brought some industrial operations back to the country over the last few years, thanks to lower energy costs that offset higher labor costs.
For the full Oilprice.com story, click here.