Significant growth in the global middle class, expansion of emerging economies and an additional 2 billion people in the world will contribute to a 35 percent increase in energy demand by 2040, according to a report released by Exxon Mobil.
Texas – Until 2040 energy consumption will increase by 35 %. This is the conclusion of Exxon Mobiles Outlook for Energy.
The company projects that carbon-based fuels will continue to meet about three quarters of global energy needs through 2040, which is consistent with all credible projections, including those made by the International Energy Agency. The outlook shows a shift toward lower-carbon fuels in the coming decades that, in combination with efficiency gains, will lead to a gradual decline in energy-related carbon dioxide emissions.
Wind, Solar and Biofuel are rising Stars
Wind, solar and biofuels are expected to be the fastest-growing energy sources, increasing about 6 percent a year on average through 2040, when they will be approaching 4 percent of global energy demand. Renewables in total will account for about 15 percent of energy demand in 2040. Nuclear energy, one of the fastest-growing energy sources, is expected to nearly double from 2010 to 2040, with growth in the Asia Pacific region, led by China, accounting for about 75 percent of the increase.
“This research offers important perspective about the factors that will drive the world’s energy needs in the coming decades,” said Rex W. Tillerson, chairman and chief executive officer of Exxon Mobil Corporation. “Helping individuals, businesses and governments to better understand the elements that shape future energy supply and demand around the world is essential to aid investments and create effective energy policy.”
The Outlook for Energy provides ExxonMobil’s long-term view of global energy demand and supply. Its findings help guide the company’s investments, which support its business strategy. The outlook is developed by examining energy supply and demand trends in 100 countries, 15 demand sectors covering all manner of personal and business needs and 20 different energy types.
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