Demand for Energy to Rise 30% by 2040, Tempered by Efficiency Gains

Worldwide demand for energy will increase 30% over the next 30 years, as prosperity expands across the world and the population grows to nearly 9 billion people, according to Exxon Mobil Corp. In its The Outlook for Energy: A View to 2040 report, the energy company says that China, India, Africa and other emerging economies will lead the growth, while demand in the United States and other fully developed economies will remain relatively constant. Energy demand will shift toward less-carbon-intensive energy sources such as natural gas, and renewable energy sources will increase to account for 15% of world energy supply. The report adds that projected increase in demand would be four times higher without projected gains in efficiency.

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Source: Exxon Mobil