The U.S. Energy Information Administration (EIA) projects U.S. energy production, consumption, and prices each year in the Annual Energy Outlook (AEO). Every two years, EIA also produces the AEO Retrospective Review (AEO Retrospective). The AEO Retrospective compares recent history with the Reference case projections from previous editions of the AEO. It also shows the relationship between past AEO projections and actual energy indicators, and it informs discussions about the underlying models. The projections presented in the AEO are not statements of what will happen but of what may happen given the assumptions in the underlying National Energy Modeling System (NEMS). These publically available assumptions include projections of oil prices and gross domestic product (GDP). [ 1 ] The AEO Reference case projection generally assumes current laws and regulations, and it includes current views in economic and demographic trends and technology improvements. […]