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Exxon Mobil (XOM) Issue Energy Outlook To 2040

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By Douglas A. McIntyre Published
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Exxon Mobil (NYSE: XOM) issued its major energy outlook which take some forecasts to 2040.

The oil company said

Through 2030, rising demand for transportation fuels is led by trucking, aviation and marine requirements, and by a surge in the number of personal vehicles in Asia.

It added

With the scale of the world’s energy needs already enormous, and global demand projected to rise by about 35 percent from 2005 to 2030, it is clear that all reliable, affordable energy sources must be expanded in order to provide the energy needed for economic growth and societal development.

However, through 2030, there will be some significant shifts in the composition of the world’s energy.

Oil, natural gas and coal will remain the most significant energy sources. By 2030, they will provide just under 80 percent of global energy, down slightly versus today.

Part of the analysis said that natural gas would become the major source of energy for electric power in the US by 2025, which would replace coal in that regard

 

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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