Demand for Energy Increasing

According to the United States Department of Energy, the demand for energy is still increasing, despite increasing prices. The demand is expected to continue to rise in the coming years, and the United States is making plans to supply more energy to meet the demand by producing more oil and importing more natural gas. Although energy use is expected to rise, the rate at which it is expected to rise is not as high as predicted last year, so the higher prices have had a small effect on the demand for energy. If the prices remain where they are now, energy consumption is expected to continue to increase at the current rate for industrial, commercial, and residential consumers, but the rate is expected to decrease for the consumption of energy in the transportation sector. This article suggests that the demand for energy is inelastic, but not perfectly inelastic.