The 2019 Outlook for Energy is ExxonMobil’s latest view of energy demand and supply through 2040. For many years the Outlook has helped inform ExxonMobil’s long-term business strategies, investment plans and research programs.
As energy is essential for human development, society faces a dual challenge: to provide reliable and affordable energy to a growing population, while reducing environmental impacts, including the risks of climate change.
The Outlook provides a projection of energy demand through 2040 using the International Energy Agency (IEA) and other credible third-party sources as a foundation. The projection is based on likely trends in technology, policy, consumer preferences, geopolitics and economic development. While these individual trends may vary over time, the snapshot provided by the Outlook can help to evaluate society’s progress toward addressing both aspects of the dual challenge.
We believe technology holds the greatest potential to help society address the dual challenge. Technology has already significantly improved energy efficiency and helped to unlock diverse and abundant sources of energy. To address the dual challenge, no technology or energy type can be ignored. Instead, the world must harness a variety of energy sources and technology advances, guided by policies that fully reflect the costs and benefits, consumer preferences and the need to provide affordable energy to all.
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10th March 2021
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