ExxonMobil Projects 25% Energy Demand Increase Between 2014-2040, 50% Decline in Carbon Intensity; Hybrids to Be 40% of New Car Sales

Global energy demand will increase 25% between 2014 and 2040, driven by population growth and economic expansion, ExxonMobil forecasts in the 2016 edition of its annual The Outlook for Energy.  At the same time, energy efficiency gains and increased use of renewable energy sources and lower carbon fuels, such as natural gas, are expected to help reduce by half the carbon intensity of the global economy.

During the period, the world’s population will increase by about 2 billion people and emerging economies will continue to expand significantly, according to the forecast.  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%.

ExxonMobil expects natural gas is expected to meet about 40% of the growth in global energy needs; demand for the fuel will increase by 50%.  Nuclear and renewable energy sources—including bio-energy, hydro, geothermal, wind, and solar—are also likely to account for nearly 40% of the growth in global energy demand by 2040.  By then, they are expected to make up nearly 25% of supplies of which nuclear alone represents about one third.

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