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Exxon Mobil predicts oil and gas will rule energy sector in 2040

26 Jan 2016

Exxon Mobil believes oil and gas will remain king in 2040. The biggest U.S oil company announced on Monday that it expects carbon emissions will continue rising until 2030. With regards to emerging markets such as renewable energy, Exxon forecasts that it will triple but only account for 4 percent of the world’s energy.

Included in the outlook was the global demand for natural gas as Exxon Mobil expects it to grow by 50 percent, mentioning that North America could also become a net oil exporter by 2020.

"Exxon Mobil uses the outlook to develop business strategies that underpin our billion-dollar investment decisions," said William Colton, Exxon Mobil’s chief strategist.

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