Annual energy demand growth worldwide is expected to average 1.3% per year from 2005 to 2030, and global energy demand is expected to be one-third higher compared to today, ExxonMobil said Monday in its annual outlook report. Global energy demand over the next 20 years will come from continued economic progress, population growth and the pursuit of improved living standards in the developing world, the oil major said.

“Ready access to reliable, affordable energy is essential to economic prosperity worldwide,” said CEO Rex W. Tillerson. “Our challenge is to meet energy demand with practical, broad-based solutions that promote economic development and energy security while balancing the need to protect our environment.”

The latest “Outlook for Energy: A View to 2030” is used by Exxon’s management staff to plan business strategies and to increase public understanding of the world’s energy needs and challenges. The outlook is developed through a detailed analysis of about 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 this year’s findings:

“The energy challenges faced by the world are undeniable,” said Tillerson. “Economic progress will drive energy demand, oil and gas will remain indispensable for the foreseeable future, and a global effort will be required to tackle greenhouse gas emissions.”

To read the report, visit www.exxonmobil.com/energyoutlook.

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