The United States Energy Consumption and Carbon Dioxide Emissions: A Comprehensive Forecast Using a Regression Model

Krishnamurthy Baskar Keerthana, Shih-Wei Wu (), Mu-En Wu and Thangavelu Kokulnathan
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Krishnamurthy Baskar Keerthana: Department of Information and Financial Management, College of Management, National Taipei University of Technology, Taipei 10608, Taiwan
Shih-Wei Wu: Department of Business Management, College of Management, National Taipei University of Technology, Taipei 10608, Taiwan
Mu-En Wu: Department of Information and Financial Management, College of Management, National Taipei University of Technology, Taipei 10608, Taiwan
Thangavelu Kokulnathan: Department of Electro-Optical Engineering, National Taipei University of Technology, Taipei 10608, Taiwan

Sustainability, 2023, vol. 15, issue 10, 1-20

Abstract: The Earth’s climate change, colloquially known as global warming, is detrimental to life across the globe. The most significant contributor to the greenhouse gas (GHG) effect is carbon dioxide (CO 2 ) emission. In the United States (US) economy, the major benefactor of CO 2 emissions is the energy sector, with the top contribution coming from fossil fuels. The estimated 2020 CO 2 emission was 5981 million metric tons, despite a dramatic reduction in the trendline compared to the year 2019. An ultimatum for energy consumption rises from fiscal development, growing population, and technological advancements. Energy use and GHG emissions are inclined upward, provoking an unwholesome nation. This paper studies (i) the principal sources of energy use and CO 2 emission, (ii) the inclination of such sources, (iii) trends and drivers of GHG emissions, (iv) low carbon development and carbon footprint, and (v) the diverse US projects for reducing GHG emissions and the challenges in deploying them. We have forecasted the emissions from fossil fuels from 2025 to 2050 and compared the results using MAPE to calculate the mean percentage error. The forecasted results of 2050 show high accuracy, suggesting probable approaches to reduce further CO 2 emissions, measures to reduce emissions through carbon capture and sequestration, and help in the development of improved GHG mitigations for the nation.

Keywords: global warming; CO 2 emission; regression model; greenhouse gas; energy sector (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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