Shift in Global Energy Predicts New Report

Press Release
Tuesday, December 11, 2012

ExxonMobil’s 'Outlook for Energy' forecasts new opportunities for international trade and economic growth.

The global energy landscape will evolve significantly as regional demand-and-supply patterns shift in the coming decades, creating new opportunities for international trade and economic growth, says newly-releaed 'Outlook for Energy: A View to 2040'.

  • Global energy demand expected to be 35 percent higher in 2040 versus 2010 as population and economy grow
  • North America likely to transition to net energy exporter by 2025
  • Oil and natural gas supplies benefit from advanced technologies and will meet about 60 percent of global energy demand in 2040

In its annual forecast, ExxonMobil projects that global energy demand in 2040 will be approximately 35 percent higher than in 2010. Future energy needs will be supported by more efficient energy-saving practices and technologies, increased use of less-carbon-intensive fuels such as natural gas, nuclear and renewables, and the development of unconventional energy sources that were previously inaccessible without technology advances.

Oil will continue to be the most widely used fuel, but natural gas -- the fastest growing major fuel -- is expected to overtake coal by 2025 as the second most used fuel. Demand for natural gas will increase by about 65 percent through 2040, and 20 percent of global production will occur in North America, supported by growing supplies of gas from shale and other unconventional sources.

The Outlook for Energy projects that North America is likely to transition to a net energy exporter by 2025. Over the next two decades, more than half of the growth in unconventional natural gas supply will be in North America, providing a strong foundation for increased economic growth across the United States, and most notably in industries such as energy, chemicals, steel and manufacturing.

These resources will also create new opportunities for global trade with countries in Europe and the Asia Pacific region, which are reliant on international markets to meet domestic energy requirements. The changing landscape and resulting trade opportunities will continue to provide consumers with more choices, value, wealth and good jobs.

Global transportation-related energy demand is predicted to rise by more than 40 percent from 2010 to 2040. The growth is almost entirely from commercial transportation -- heavy duty, aviation, marine and rail -- as expanding economies and international trade spur greater movement of goods.

More information is available here.

Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Technology

Google Maps Goes Coastal with Unmanned Boat

A new high-tech unmanned vessel, launched with the help of Google, will use innovative technologies from the boatbuilding and mapping fields to map shorelines and

Bollinger Delivers 14th FRC to USCG

Bollinger Shipyards has delivered the 14th Fast Response Cutter (FRC), Heriberto Hernandez, to the United States Coast Guard (USCG). The 154-foot patrol craft

Korean Registry Okays Transas ECDIS

Transas, one of the world's leading providers of integrated navigation solutions, received ECDIS type-approval from the Korean Registry (Korea Marine Equipment Research Institute),

Fuels & Lubes

ClassNK Releases Guidelines for CNG Carriers

Classification society ClassNK has released its Guidelines for Compressed Natural Gas (CNG) Carriers.   Global economic and population growth is bringing about

Côte D’Ivoire Invests in O&G Safety Training

Thegrowth in oil and gas activity in Côte D’Ivoire has seen investment in standardized safety training in the region far outstrip that of other hydrocarbon-rich West African countries,

Diesel Spill in Houston Ship Channel

A small section of the Upper Houston Ship Channel was closed Tuesday morning after a report of 1,000 gallons of diesel entered Greens Bayou from a cement facility, the U.

News

SSE Rolls Out Two Shipping Indices

Shanghai Shipping Exchange launched on Wednesday the "Belt and Road" shipping indices, tracking trade data and shipping freight rates under the initiatives of

Shanghai 6th Best Shipping Center Globally

Shanghai has moved up the rankings of the world’s top shipping centers to sixth place, surpassing Dubai thanks to Free Trade Zone regulations and the Belt and Road Initiative,

China Cosco Guides H1 Profits at $306mln

China Cosco Holdings, the flagship unit of Cosco Group, is expecting a net profit of Yuan1.9bn ($306m) for the first half, against the Yuan2.3bn loss during the same period last year.

Intermodal

Substantial Demand Underscores Need for TIGER Grants

U.S. Transportation Secretary Anthony Foxx has announced that applications to the U.S. Department of Transportation for its seventh round of Transportation Investment

Neptune Orient Lines Logs Q2 Profit

Singapore's Neptune Orient Lines Ltd (NOL) swung to a tiny net profit in its second quarter after six straight quarters of losses but said it had seen severe freight rate erosion.

Dometic Debuts Engineering Team for Ship-wide Ventilation

Dometic Marine, a division of Dometic Group, a global provider of leisure products for the marine, truck, caravan, motor home and automotive markets, has unveiled its new,

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Offshore Oil Pipelines Salvage Ship Electronics Ship Simulators Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1629 sec (6 req/sec)