Understanding the global energy picture is helpful so we know where the shale energy piece “fits” in that picture. Each year ExxonMobil prepares an annual energy outlook. Yesterday they released the 2014 ExxonMobil Outlook for Energy: A View to 2040 report (full copy embedded below). Some interesting tidbits from the report: ExxonMobil says global energy demand will be 35% higher in 2040 than it was in 2010. Not surprisingly, they figure 60% of the world’s energy needs for the foreseeable future (until 2040) will be met by oil and natural gas, although renewables continue to grow.
Something else they note of great interest to MDN readers: “Natural gas will continue to be the fastest-growing major fuel source as demand increases by about 65 percent. Natural gas is projected to account for more than one quarter of all global energy needs by 2040 and it is expected to overtake coal as the largest source of electricity.” Here’s ExxonMobil’s press release announcing some of the key findings in this year’s report, followed by a full copy of the report: