Executive Briefings

World to Consume 25 Percent More Energy By 2040, Exxon Mobil Estimates

Exxon Mobil Corp. expects energy demand to climb 25 percent by 2040 as the global population increases.

China, India and lesser-developed countries will need significantly more energy in the decades to come, Exxon said, as their populations and economies continue to develop. The U.S., Europe and more advanced countries, meanwhile, will see demand and energy-sector carbon emissions slow, according to an Exxon projection.

China and India will combine for more than half the total 25 percent growth in energy demand. But advancements in energy efficiency will keep that figure from rising even higher, the report said.

Exxon, a major oil and natural gas developer, said it expects the two fuels to meet about 60 percent of global energy demand between now and 2040.

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China, India and lesser-developed countries will need significantly more energy in the decades to come, Exxon said, as their populations and economies continue to develop. The U.S., Europe and more advanced countries, meanwhile, will see demand and energy-sector carbon emissions slow, according to an Exxon projection.

China and India will combine for more than half the total 25 percent growth in energy demand. But advancements in energy efficiency will keep that figure from rising even higher, the report said.

Exxon, a major oil and natural gas developer, said it expects the two fuels to meet about 60 percent of global energy demand between now and 2040.

Read Full Article