Most underestimate role of oil, natural gas in future energy mix
By Alexandra Stadnyk
A new survey finds that while Americans now recognize the United States will need more energy in the coming years, they continue to underestimate the amount of oil and natural gas that government experts predict will be needed to meet that demand, the third annual "Energy IQ" survey, conducted for the American Petroleum Institute (API) by Harris Interactive found.
The survey found that respondents overestimate the role that renewable energy sources will play in meeting future demand, the amount of oil the U.S. imports from the Middle East, and oil and natural gas industry earnings.
"The American public wants to believe there is a silver bullet answer to our energy challenges despite what government experts predict," said Jim Hoskins, senior vice president for Harris Interactive. "Americans have become more aware of how current policies limit increased domestic production but they also continue to subscribe to common, yet critical, misperceptions regarding how the industry operates and the energy we'll need to meet growing demand."
Findings from the survey include:
• While the U.S. Energy Information Administration (EIA) projects that U.S. energy demand will increase 9 percent during the next 20 years, only 5 percent of respondents chose the correct answer. The majority overestimated this number, believing that U.S. demand would increase 16 to 21 percent.
• Fifty-three percent of respondents believed that Saudi Arabia was the largest U.S. supplier of imported crude oil. In fact, according to the Department of Energy, Canada is the largest supplier of imported crude oil.
• More than 40 percent of respondents believed that over 30 percent of U.S. oil supply came from the Persian Gulf.
API commissioned the online research by Harris Interactive of 1,298 U.S. adults between April 30 and May 8, 2009.