Natural gas will be the most widely used fuel source in the US over the next five years, according to a survey by Deloitte.
Deloitte Oil and Gas Practice vice chairman Gary Adams said the survey results revealed that the energy future of the US will become more closely aligned with natural gas than previously predicted.
“The overwhelming majority of survey respondents, 84%, say the best days for the natural gas industry are still ahead of us, despite today’s low prices,” Adams said.
The report found that while most analysts agree that oil will remain vital for transportation, domestic gas will experience a vibrant future.
According to the survey, oil will still remain the dominant fuel following new finds in deepwater and Arctic regions or in reserves controlled by national oil interests.