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ExxonMobil: Demand Outpaces Efficiency Gains for Next 20 Years

Multiple solutions will be required to meet energy demand and curtail greenhouse gas emissions that will result from population growth and economic expansion, ExxonMobil Corp. said in its "Outlook for Energy: A View to 2030," the latest iteration of the annual report. Fossil fuels will retain their primacy among energy sources, but nuclear power and renewable energy will take a growing slice of the pie.

The report's findings are used to assist ExxonMobil's business planning and to increase public understanding of energy issues. The outlook is developed through an analysis of approximately 100 countries, 15 demand sectors and 20 fuel types and is underpinned by economic and population projections and expectations of significant energy efficiency improvements and technology advancements.

Among findings in this year's report:

"Providing affordable energy to meet growing demand is one of the world's foremost challenges in the next 20 years," said ExxonMobil CEO Rex Tillerson. "We must invest in the production of existing fuel sources, develop new sources of energy and create new technologies that will reduce the environmental footprint of energy production and use.”

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