Short-Term Energy Outlook calls for strong production in 2011. EIA released its Short-Term Energy Outlook (STEO) on July 12, with forecasts through 2012. In this month’s STEO EIA expects marketed production of natural gas will average 65.4 Bcf per day in 2011, an increase of almost 6 percent over the previous year. Growth continues in 2012, but at a much slower pace, with forecast marketed production of 66.0 Bcf per day. Consumption in 2011 is expected to grow 2 percent to 67.4 Bcf per day, with industrial and electric power consumption increasing to 18.7 Bcf per day and 20.6 Bcf per day, respectively. This month EIA expects that inventories of working natural gas in storage, which are currently below last year’s levels and the five-year average, will come close to last year’s levels at the end of the injection season. Henry Hub prices average an estimated $4.27 per MMBtu in 2011, and are expected to rise to an average of $4.54 per MMBtu in 2012, as slowing growth in production contributes to tighter domestic natural gas markets.