The Outlook for Energy is ExxonMobil’s global view of energy demand and supply through 2040.
Each year, ExxonMobil analyzes and updates its long-term view on energy supply and demand. Why is this important? Simply because energy is fundamental to modern life.
What will the world’s energy picture look like in the future? To answer this question, we need to start by analyzing the world’s long-term demographic and economic trends.
Global energy demand will continue to rise through 2040, reflecting its fundamental link to growing prosperity and better living standards for an increasing population worldwide.
Providing reliable, affordable energy to support prosperity and enhance living standards is coupled with the need to do so in ways that reduce impacts on the environment, including the risks of climate change. This is a dual challenge ExxonMobil takes seriously.
What resources will be available to meet the world’s increasing demand for more energy? Technology advancements underpin the diversification of energy choices.
Addressing the risks of climate change implies a variety of potential future pathways that would affect supply and use of energy across society. Advancing the application of cost-effective technology solutions will likely be critical to pursue a 2°C pathway, while helping keep energy reliable and affordable.
As the world’s population approaches 9 billion people in 2040, we are challenged to help improve living standards everywhere. We expect that progress will be powered by human ingenuity and the energy that helps make better lives possible.