EXXON ENERGY OUTLOOK - 2040
EXXONMOBIL - 2018 Outlook for Energy: A View to 2040
Energy powers modern economies and living standards
By 2030, the world's economic middle class will likely expand from 3 billion to more than 5 billion people. This growth will coincide with vastly improved living standards, resulting in rising energy use in many developing countries as people develop modern businesses and gain access to cars, appliances and air-conditioned homes.
Global energy needs rise about 25 percent, led by non-OECD nations
Despite efficiency gains, global energy demand will likely increase nearly 25 percent. Nearly all growth will be in non-OECD countries (e.g. China, India), where demand will likely increase about 40 percent, or about the same amount of energy used in the Americas today.
Electricity demand nearly doubles in non-OECD nations
Human activity continues to be dependent on reliable supplies of electricity. Global electricity demand will rise by 60 percent between 2016 and 2040, led by a near doubling of demand in non-OECD countries.
Electricity from solar and wind increases about 400 percent
Among the most rapidly expanding energy supplies will be electricity from solar and wind, together growing about 400 percent. The combined share of solar and wind to global electricity supplies is likely to triple by 2040, helping the CO2 intensity of delivered electricity to fall more than 30 percent.
Natural gas expands role to meet a wide variety of needs
The abundance and versatility of natural gas make it a valuable energy source to meet a wide variety of needs while also helping the world shift to less carbon-intensive sources of energy. Natural gas use is likely to increase more than any other energy source, with about half its growth for electricity generation.
Oil plays a leading role to aid mobility and modern products
More electric cars and efficiency improvements in conventional engines will likely lead to a peak in liquid fuels use by the world's liquid light-duty vehicle fleet by 2030. However, oil will continue to play a leading role in the world's energy mix, with growing demand driven by commercial transportation and the chemical industry.
Decarbonization of the world's energy system will accelerate
As the world's economy nearly doubles by 2040, energy efficiency gains and a shift to less carbon-intensive sources of energy will contribute to a nearly 45 percent decline in the carbon intensity of global GDP. Global energy-related CO2 emissions will likely peak by 2040 at about 10 percent above the 2016 level.
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THE LOCAL FRANCE - Angola and French oil giant Total formally launched a major new offshore oil project Saturday to aid the country's economy that plunged into crisis following oil price dips in 2014.
WNN - China's State Power Investment Corporation (SPIC) says it has signed a memorandum of understanding (MoU) for "global cooperation" in nuclear energy with Westinghouse Electric Company of the USA.
WNN - Advanced Nuclear Technologies - otherwise known as small nuclear or small reactor technologies - encompass a wide range of nuclear reactor technologies under development, BEIS noted. "The common attributes that these technologies share is that they are smaller than conventional nuclear power station reactors and are designed so that much of the plant can be fabricated in a factory environment and transported to site, reducing construction risk and making them less capital-intensive," it said.
WNN - Poland and the USA have signed a Joint Declaration of Energy Security, which emphasises the expansion of their cooperation in a variety of areas, including civil nuclear energy. The document was signed in Warsaw yesterday by Polish Energy Minister Krzysztof Tchórzewski and US Secretary of Energy Rick Perry.