Mounting US energy demand pressures 2004 market

Booming economies in the US and elsewhere will bolster energy demand this year, but the extent to which high energy costs will limit economic growth or to which increased energy conservation will ensue is as yet unknown.The US economy will grow in 2004, as will total energy demand, while realizing greater energy efficiencies. OGJ forecasts that US oil demand will increase more than 2% this year, and natural gas, coal, and nuclear energy demand also will grow but by smaller margins.Estimates of worldwide oil demand continue to rise, prompting action by large crude exporters to supply the volatile market, which has seen prices surge and remain strong due to a host of factors.US oil producti...

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