ExxonMobil has released its annual long-term energy outlook, projecting global energy needs and supplies out to 2040. Some highlights:
- Demand in developing nations will rise 65 percent by 2040 compared to 2010, nearly double the rate of overall demand growth for the globe (35 percent).
- Electricity demand will account for more than half of the increase in overall global energy demand. The world will need 85 percent more electricity in 2040 than it used in 2010.
- As economies expand, transportation sector energy demand is expected to increase by more than 40 percent from 2010 to 2040 – led by a 65 percent increase in demand from heavy-duty transportation.
On the supply side:
- Oil and natural gas will supply about 60 percent of global energy demand in 2040, up from 55 per... more »