Top Trends in Energy These are the Top Trends for Tomorrow's Energy Sector
The run on energy continues: By 2020, the global energy demand could increase by 25 percent, despite significant efforts to save energy. Yet, the carbon intensity of the global economy could fall by half in the same time…
Energy will always be in high demand: Population growth and economic development are expected to push the global energy consumption by 25 percent until 2040. The latest edition of Exxon Mobil’s Outlook for Energy nevertheless expects carbon intensity of the future economy to drop by one half, thanks to energy efficiency gains, the increased use of renewables and lower carbon fuels, such as natural gas.
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During the period, the world’s population could well increase by about 2 billion people and emerging economies will continue to expand significantly, analysts at Exxon expect. Most growth in energy demand will occur in developing nations that are not part of the Organization for Economic Co-operation and Development (OECD). Per capita income in those countries is likely to increase by 135 percent.
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In the same time, natural gas is will become one of the premier energy sources of the world: By 2040, gas could meet about 40 percent of the growth in global energy needs and demand for the fuel will increase by 50 percent, Exxon specialists say. Nuclear and renewable energy sources – including bio-energy, hydro, geothermal, wind, and solar – are also likely to account for nearly 40 percent of the growth in global energy demand by 2040. By then, they are expected to make up nearly 25 percent of supplies of which nuclear alone represents about one third.
The outlook projects that global energy-related carbon dioxide emissions will peak around 2030 and then start to decline. Emissions in OECD nations are projected to fall by about 20 percent from 2014 to 2040.
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