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ExxonMobil unveils world's future energy prospects

Global energy demand will increase 25 percent between 2014 and 2040, driven by population growth and economic expansion, while oil will remain the No.1 source of fuel, ExxonMobil said in the 2016 edition of The Outlook for Energy.



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Energy efficiency will improve and increased use of renewable energy sources and lower carbon fuels, such as natural gas, are expected to help reduce by half the carbon intensity of the global economy.

During the period, the world’s population will increase by about 2 billion people and emerging economies will continue to expand significantly.

In 2040, oil and natural gas are expected to make up nearly 60 percent of global supplies, while nuclear and renewables will be approaching 25 percent. Oil will provide one third of the world’s energy in 2040, remaining the No. 1 source of fuel, and natural gas will move into second place.

“ExxonMobil’s analysis and those of independent agencies confirms our long-standing view that all viable energy sources will be needed to meet increasing demand,” said Rex W. Tillerson, chairman and chief executive officer of Exxon Mobil Corporation.

Some key findings of the reports include:

  • Global energy demand from transportation is projected to rise by about 30 percent, and practically all the growth will be in non-OECD countries.
  • Sales of new hybrids are expected to jump from about 2 percent of new-car sales in 2014 to more than 40 percent by 2040, when one in four cars in the world will be a hybrid. Average fuel economy will rise from 25 to about 45 miles per gallon.
  • North America, which for decades had been an oil importer, is on pace to become a net exporter around 2020.
  • India will surpass China as the world’s most populous nation, with 1.6 billion people. The two countries are expected to account for almost half of the growth in global energy demand.
  • Global demand for electricity is expected to increase by 65 percent, and 85 percent of the increase is in non-OECD nations.
  • The share of the world’s electricity generated by coal is expected to fall to about 30 percent in 2040 from approximately 40 percent in 2014.

For more information about The Outlook for Energy, visitwww.exxonmobil.com/energyoutlook.

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