The International Energy Agency published its latest World Energy Outlook last week, and the report outlines several global energy scenarios to 2035 – highlighting possible implications for energy supply, demand, technology, emissions and investments. As we review and assess some of the key conclusions in the report – which I’ll talk about in future posts – it’s clear we agree with the IEA on a couple of their most fundamental conclusions.
When we stop and think about it, it’s obvious how critical energy is to our daily lives. But, because energy is supplied reliably 24 hours a day with little or no disruption, we sometimes take it for granted. But for millions of hard-working Americans, energy is just as important to their livelihoods – and they certainly don’t take it for granted. According to a study by PricewaterhouseCoopers, the oil and natural gas industry supports more than 9.2 million jobs in the United States, accounting for 5.2 percent of total U.S. employment.
Today, the presidential commission investigating the tragic Deepwater Horizon incident in the Gulf of Mexico convened for the second part of a two-day hearing in Washington, D.C. As part of today’s hearings, the commission sought views on how companies have developed sustainable and effective approaches to safety. Our chairman and CEO, Rex Tillerson, was invited to share ExxonMobil’s perspectives on this critical issue.
Today, we posed a question on the front page of the Wall Street Journal: How much of a gallon of gas is lost to heat, friction and other factors in a vehicle instead of actually being used to power the wheels? If you haven’t already seen the answer we gave in the ad, you be might be surprised. Your car only uses 20 percent of each gallon of gasoline to actually get you where you want to go — the other 80 percent is lost due to various sources of inefficiency throughout the car.