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
Take This Retirement Quiz To Get Matched With A Financial Advisor (Sponsored)
Take the quiz below to get matched with a financial advisor today.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the
advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Take the retirement quiz right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.