As the world continues to develop, ExxonMobil research revealed that energy demands will grows and the world Population to growth by 25% in 2040 which also lead economic to growth thereby fuel demand for more energy. If so, then, it will translate to more manufacturing and transportation to get products and goods in the hands of the expanding middle class.
For sure, advances in technology and global economic policy will continue to impact the energy mix going forward.
In the same vein, forecast of the energy mix by 2040, natural gas will meet 25 percent of energy demand as natural gas will comprise 25 percent of all demand, surpassing coal
Though, the global government policies aimed at reducing CO2emissions will continue to impact the energy mix as it expected to grow by 10% continue into 2030s and then declining due to more efficient buildings energy utilisation, Gains in transportation fuel economy, Advances in manufacturing and power plant efficiencies and Shifts to less carbon-intensive energy, like natural gas, nuclear and renewable
Therefore, the demand will shift toward less carbon-intensive fuels like natural gas, renewable and nuclear.
By the year under review, “nuclear and renewable will grow 50 percent approaching 25 percent of energy demand nevertheless oil as source of energy will continue to play a leading role in the energy mix, driven by demand in transportation and feedstock for the chemical industry.
“It will take all energy types to meet demand in 2040, and use of each of these energy sources continues to evolve in ways that reduce environmental impact