Market Snapshot
  • U.S.
  • Europe
  • Asia
Ticker Volume Price Price Delta
DJIA 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 2.54 0.14%
NASDAQ 4,095.52 9.29 0.23%
Ticker Volume Price Price Delta
STOXX 50 3,155.81 16.55 0.53%
FTSE 100 6,625.25 41.08 0.62%
DAX 9,409.71 91.89 0.99%
Ticker Volume Price Price Delta
NIKKEI 14,516.27 98.74 0.68%
TOPIX 1,173.37 6.78 0.58%
HANG SENG 22,760.24 64.23 0.28%

ExxonMobil’s Outlook for Energy Forecasts Shift in Global Energy Balance and New Opportunities for International Trade and



  ExxonMobil’s Outlook for Energy Forecasts Shift in Global Energy Balance and
  New Opportunities for International Trade and Economic Growth

  * Global energy demand expected to be 35 percent higher in 2040 versus 2010
    as population and economy grow
  * North America likely to transition to net energy exporter by 2025
  * Oil and natural gas supplies benefit from advanced technologies and will
    meet about 60 percent of global energy demand in 2040

Business Wire

IRVING, Texas -- December 11, 2012

The global energy landscape will evolve significantly as regional
demand-and-supply patterns shift in the coming decades, creating new
opportunities for international trade and economic growth, says ExxonMobil’s
Outlook for Energy: A View to 2040, which was  released today.

“Energy is fundamental to our way of life and essential to grow our economy,”
said Rex W. Tillerson, chairman and chief executive officer of Exxon Mobil
Corporation (NYSE:XOM). “Understanding future energy trends is critical for
effective policy decisions that can help ensure safe, reliable and affordable
energy development and economic growth, job creation and expanded global
trade.”

In its annual forecast, ExxonMobil projects that global energy demand in 2040
will be approximately 35 percent higher than in 2010. Future energy needs will
be supported by more efficient energy-saving practices and technologies,
increased use of less-carbon-intensive fuels such as natural gas, nuclear and
renewables, and the development of unconventional energy sources that were
previously inaccessible without technology advances.

Oil will continue to be the most widely used fuel, but natural gas -- the
fastest growing major fuel -- is expected to overtake coal by 2025 as the
second most used fuel. Demand for natural gas will increase by about 65
percent through 2040, and 20 percent of global production will occur in North
America, supported by growing supplies of gas from shale and other
unconventional sources.

New technologies will continue to be key to development of reliable and
affordable energy, which is central to economic growth and human progress, the
Outlook for Energy concludes. Significant advancements in oil and natural gas
technologies have safely unlocked vast new supplies, already changing the
energy landscape in North America and expanding supplies to help meet growing
global energy demand.

The Outlook for Energy projects that North America is likely to transition to
a net energy exporter by 2025. Over the next two decades, more than half of
the growth in unconventional natural gas supply will be in North America,
providing a strong foundation for increased economic growth across the United
States, and most notably in industries such as energy, chemicals, steel and
manufacturing.

These resources will also create new opportunities for global trade with
countries in Europe and the Asia Pacific region, which are reliant on
international markets to meet domestic energy requirements. The changing
landscape and resulting trade opportunities will continue to provide consumers
with more choices, value, wealth and good jobs.

The Outlook for Energy projects that energy for electricity generation will
continue to be the largest component of global demand and is expected to grow
by 50 percent to 2040. The growth reflects an expected 85 percent increase in
electricity demand, led by developing countries where 1.3 billion people are
currently without access to electricity.

As the world gradually transitions from coal to cleaner fuels for electricity
generation, natural gas, nuclear and renewable energy sources, including wind
and solar, will represent a greater share of the global energy mix. Natural
gas, which emits up to 60 percent less carbon dioxide than coal when used for
electricity generation, will grow the most. By 2040, natural gas will account
for 30 percent of global electricity generation, compared to less than 25
percent today.

The Outlook for Energy highlights the important role of efficiency in helping
balance energy demand with the growing world economy. Energy-saving practices
and technologies, such as hybrid vehicles and high-efficiency natural gas
power plants, will help countries in the Organization for Economic Cooperation
and Development (OECD) increase economic output by 80 percent without
increasing total energy use. In the transportation sector, the number of cars
on the road worldwide is expected to approximately double by 2040, but the
fuel demand will actually plateau and gradually decline as consumers turn to
smaller, lighter vehicles and technologies improve fuel efficiency.

The Outlook for Energy is developed each year by a team of experts using a
combination of public and proprietary sources, and guides ExxonMobil's global
investment decisions. Many of its findings are similar to those from other
respected organizations, including the International Energy Agency. ExxonMobil
publishes The Outlook for Energy each year to encourage broader understanding
of energy issues among policymakers and the public to enable informed
decisions on energy issues.

Among this year’s findings:

  * Energy demand in non-OECD countries will increase 65 percent by 2040
    compared to 2010, reflecting growing prosperity in nations that include
    more than 80 percent of the world’s population.
  * Electricity generation is expected to account for more than half of the
    increase in global energy demand over the next few decades. Natural gas,
    nuclear and renewables will grow to meet rising electricity demand, while
    coal and oil use for power generation will decline.
  * Global transportation-related energy demand will rise by more than 40
    percent from 2010 to 2040. The growth is almost entirely from commercial
    transportation -- heavy duty, aviation, marine and rail -- as expanding
    economies and international trade spur greater movement of goods.
  * Evolving demand and supply patterns will open the door for increased
    global trade opportunities. The changing energy landscape in conjunction
    with an abundance of free trade opportunities will help lead to more
    choices and creation of value that helps fuel economic growth and improve
    living standards worldwide.

Demand for reliable, affordable energy exists every day in every community.
Meeting this demand requires foresight and effective long-term planning
followed by huge investments and years of work to build the infrastructure
required to produce and deliver energy around the world. It also takes an
ongoing ability to understand and manage an evolving set of technical,
financial, geopolitical and environmental risks in a dynamic world. The
Outlook for Energy is an essential tool to help ExxonMobil provide the energy
needed for continuing human progress.

For more information about ExxonMobil’s Outlook for Energy, visit
www.exxonmobil.com/energyoutlook.

Cautionary Statement: The Outlook and this release contain forward-looking
statements. Actual future conditions (including economic conditions, energy
demand, international trade flows, energy supply sources, and efficiency
gains) could differ materially due to changes in law or government regulation
and other political events; changes in technology; the development of new
supply sources; demographic changes; and other factors discussed in The
Outlook and under the heading "Factors Affecting Future Results" on the
Investors page of our website at www.exxonmobil.com. See also Item 1A of
ExxonMobil's latest Form 10-K.

About ExxonMobil

ExxonMobil, the largest publicly traded international oil and gas company,
uses technology and innovation to help meet the world’s growing energy needs.
ExxonMobil holds an industry-leading inventory of resources, is the largest
refiner and marketer of petroleum products, and its chemical company is one of
the largest in the world. Follow ExxonMobil on Twitter at
www.twitter.com/exxonmobil.

Contact:

ExxonMobil
Media Relations, 972-444-1107
Sponsored Links
Advertisement
Advertisements
Sponsored Links
Advertisement