Exxon: Rising living standards propel energy needs

Print
Email
|

Associated Press

Posted on December 12, 2013 at 1:02 AM

Updated Thursday, Dec 12 at 1:02 AM

NEW YORK (AP) — Exxon Mobil says the drive for higher living standards around the world will keep demand for electricity and transportation fuels growing even as economies get more efficient and governments put a price on pollution.

The company's annual long-term energy outlook, released Thursday, predicts world energy demand will grow 35 percent by 2040 as electricity and modern fuels are brought to some of the billions of people in the developing world who currently live without power or burn wood or other biomass for cooking and heating.

Those growing needs will be somewhat offset by a slow decline in consumption in the more energy-hungry economies of the developed world.

Exxon's outlook, which forecasts world energy demand through 2040, is noted by investors and policymakers, and used by Exxon to shape its investments.

Print
Email
|