Volume I will include an analysis of the western electricity and natural gas markets. Volume II will review California petroleum and transportation trends and issues. As of February 2001, some components of this report have been published. Continued growth is projected by natural gas industry associations , economists and government agencies. Resources are not reserves .
Many geologists see a looming peak and subsequent decline in production of conventional oil.
This would increase the potential for higher average prices, higher price volatility, or both. While this statement suggests that the authors considered an oil peak, this consideration has had no evident impact on their report, which does not even contain a representation of a Hubbert curve. Electricity and natural gas issues are addressed in one integrated analysis since electric generation developments have important implications for convergence with fuels markets and delivery infrastructure. This volume will include 10-year forecasts of the California supply, demand and price of both electricity and natural gas. These forecasts will also include scenario analyses that will assist energy policy assessments.