The Outlook for Energy: A View to 2040

Event Date: October 1, 2013
Speaker: Dr. Thomas Degnan
Speaker Affiliation: ExxonMobil
Time: 9:00 - 10:15 pm
Location: FRNY G140

Abstract:  The world’s economies literally run on energy. To support continued economic progress for the world’s growing population, more energy will be needed. Even with significant improvements in energy efficiency, the world’s total energy demand is expected to be approximately 40 percent higher by 2040 than it was in 2010. The vast majority of this demand increase will take place in developing countries, where economies are growing most rapidly and modern energy supplies are still a precious commodity for millions of people.

Meeting higher energy requirements poses many challenges, including boosting efficiency, developing new supplies and managing environmental risks. This presentation summarizes ExxonMobil’s long-term outlook for energy. The outlook is developed annually via an ongoing assessment process that has been conducted over decades. The results assist ExxonMobil’s business planning, and are shared publicly to help build understanding of the world’s energy needs and challenges.

The presentation focuses on energy demand to the year 2040, with particular emphasis on the increasing needs of the power generation and transportation sectors. It examines how rising demand will be met from the various energy sources available, including fossil fuels, nuclear power and renewable energies. It also provides insight to the challenge of meeting growing energy needs while significantly mitigating greenhouse global carbon dioxide emissions.