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.
Enjoy curated articles directly to your inbox.