Forecasting long-term energy trends begins with a simple fact: people need energy. Over the next few decades, population and income growth – and an unprecedented expansion of the global middle class – are expected to create new demands for energy. As people’s needs and modern technologies continue to evolve, so too will the energy landscape.
The scale and nature of this challenge is readily apparent in ExxonMobil’s Outlook for Energy: A View to 2040, a long-term global forecast of energy demand and supply trends. For example, as global economic output more than doubles by 2040, energy demand will increase about 35 percent, even with significant efficiency gains. Energy demand in the developing (non OECD) nations will drive nearly all of the global energy demand increase.
Ongoing progress poses the dual challenge of meeting the world’s energy needs to advance living standards while managing the environmental effects of energy use. While there is no single or simple solution to this challenge, practical options to meet people’s needs for reliable, affordable energy continue to expand.
Understanding the factors that drive the world’s energy needs – and likely choices to meet those needs – is the mission of The Outlook. By sharing The Outlook, ExxonMobil hopes to broaden the understanding among individuals, businesses and governments. Energy matters to everyone, and we all play a role in shaping its future and helping advance prosperity.