Exxon Annual Report: O&G to Provide 54% of World Energy in 2050

ExxonMobil recently published "The Global Outlook," the company's latest view of energy demand and supply through 2050. The document forms the basis for Exxon's business planning and is "underpinned by a deep understanding of long-term market fundamentals." Exxon is making short-term decisions based on this long-term document. And what does this document say? It says, contrary to the fantasies of leftists, that fossil energy (petroleum, natural gas, and coal) will still make up 68% of the world's energy sources in 2050, some 30 years from now. That's down from 82% today. Oil and gas by themselves will provide 54% of the world's energy in 2050. O&G is still the one.

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