An Analysis of U.S. Energy Consumption, Pricing Forecasts, and Consumer Impact

Using data gathered from the U.S. Energy Information Administration (EIA), we look at local and global energy consumption, with an emphasis on petroleum. Contrasted with various other sources of energy (wind, hydro, nuclear, etc.), we examine world consumption rates and consumption growth rates, how crude oil stocks are affected, and the state of global inventories. The historical pricing information forms the basis for our models predicting gas prices, with an emphasis on the State of Washington. We examine ANOVA analyses of the average fuel prices and consumption rates of different nations, and then discuss the implications. Using these outputs, we paint a fairly accurate picture of how the U.S. stacks up in global energy consumption. We examine solar power, geothermal, wind power, liquid bio-fuels, wood biomass, and hydropower in context of the total U.S. energy supply. Within the United States, we investigate energy consumption on a state level, with an emphasis on petroleum. These results help shed light on Washington\u27s current energy consumption efficiency and perhaps give insight into future expenditures on various energy sources. These results will form the basis of local price predictions, and well allow us to test our hypothesis that we can expect to see an increase in alternative energy sources as the prices of liquid fuels and the costs of hydroelectric and nuclear power infrastructure continue to rise