As we look ahead to 2013, we thought it would be a good time to take stock of 10 thought-provoking facts gleaned from ExxonMobil’s just released report, The Outlook for Energy: A View to 2040.
Each number offers fresh insight into the way the world uses energy now and will likely use energy in the decades ahead. As we look forward to the year 2040, we can foresee a dynamic world of growth and change:
One: Oil will remain the world’s No. 1 fuel because of its flexibility, reliability, and affordability.
Two: Natural gas will surpass coal as the world’s No. 2 fuel.
Three: Wind, solar and biofuels grow rapidly, with demand in 2040 more than five times the 2010 level. Still, by 2040, they will only make up 3 to 4 percent of total world energy.
Four: The share of natural gas as a global transportation fuel grows from 1 percent today to 4 percent in 2040, largely driven by heavy-duty trucks and marine vehicles.
Five: The energy industry sector will work to meet a 35-percent global increase in primary energy demand by 2040, while needing only about 5 percent more energy to run its operations worldwide.
Six: Thanks in large part to plentiful, cleaner-burning natural gas, North America will likely see the share of coal decline from about 19 percent to just 6 percent of its energy demand in 2040.
Seven: Wind power will increase 7-fold by 2040, providing 7 percent of the world’s electricity supply.
Eight: Natural gas, which now is a small contributor to meeting the world’s marine transportation fuel demand, will account for 8 percent of demand for that sector.
Nine: World population will rise from just over 7 billion today to nearly 9 billion, helping to drive a 35-percent increase in global energy demand.
Ten: By 2040, electric and plug-in hybrids will make up around 10 percent of new car sales, while full-hybrids will make up more than 50 percent of new car sales.
For more about our views of future energy trends, visit www.exxonmobil.com/energyoutlook.