EIA Predicts Rising Prices and Reduced Usage
The Annual Energy Outlook 2018, released in early February by the EIA, included energy usage projections through 2050 that will be of great interest to heating oil and propane retailers and wholesalers.
Residential energy consumption will drop over the next 32 years, while prices for distillate fuel oil and propane continue to rise, albeit slowly. Energy-related carbon dioxide emissions will mirror the trends in energy consumption. U.S. crude oil production in 2018 is projected to surpass the 1970 record of 9.6 million barrels per day (b/d), and plateau between 11.5 and 11.9 million b/d.
As an energy dealer, in a company that has been in business for decades if not nearly a century, you already know how to handle lean times. But are you preparing for those to come, or simply waiting and hoping for the best?
Now is the time to talk with your company’s legal, financial, and, yes, marketing consultants, to discuss which strategies will work for you: consolidation and acquisitions, lateral diversification into other home services, a vertical expansion to wholesale or distribution, or something else? PriMedia has been working with energy marketers for more than 25 years, and our industry experts can help you transition to a stronger company ready to face the future.