Outlook for Energy is Exxon Mobil’s global view of energy demand and supply through 2040. In 2040, oil use will be slightly lower and natural gas slightly higher with a total of 58% of the global energy mix. Natural Gas demand rises the most, largely to help meet increasing needs for electricity and to support rising industrial demand. North America is about to become an important energy player in this new energy paradigm.
Introduction: Exxon Mobil’s 2040 outlook is an important study and a stark reminder that the “global energy mix” will be basically the same for Oil and Gas, looking as far as 2040, with only a few differences. Since the Industrial Revolution started, Oil and Natural gas have played an instrumental role in economic transformation and mobility in our industrialized and “modern” World. Oil was so fundamental in the 20th Century, that we regard it often as the “Age of Oil”.
Today, Oil and Natural gas are still playing a pivotal role in the current global energy mix. Today, approximately 35% of primary energy used globally is assured by oil-based fuels, and natural gas represents a further 22% of total world energy mix. In 2040, oil use will be slightly lower and natural gas slightly higher with a total of 58% combined. Which means that oil will remain the world’s primary energy source through 2040. Why is this important? Because energy is fundamental to modern life. It is critical to human progress and to improving living standards for billions of people across the globe. Deion Sanders JerseyShare This