The Global Outlook is ExxonMobil’s latest view of energy demand and supply through 2050. It forms the basis for our business planning and is underpinned by a deep understanding of long-term market fundamentals.
25% decline in emissions but more is needed to reach society’s climate goals Hydraulic Drop Hammer
5X greater use of wind and solar
3 key drivers will determine the pace of the energy transition
Then we forecast energy demand across 15 sectors and match the demand for energy services with about 20 types of energy, considering how technology, government policies, and other factors may evolve. We forecast oil and natural gas production from key producing countries/regions, and to estimate energy-related CO2 emissions, we look at historical and projected energy demand and apply an emissions factor for each type.
Energy is essential for human progress. Economic expansion and improving access to energy enable people to lead longer, more productive lives.
Policy. Technology. Consumer preferences. All three affect how the world uses energy. Each driver influences the others and changes over time, with variances by region and political circumstances.
Energy – in all its forms – enables growth and prosperity. As economies grow, as technology advances, as consumers become more environmentally aware, and as government policies adapt, global energy demand will evolve to meet changing needs.
Providing reliable, affordable energy to support prosperity and improve living standards is coupled with the need to do so in ways that reduce risk to the environment, including climate change.
How we develop our Outlook
The Company monitors changes in technology and policy, for example solar panel pricing, battery efficiency, the European Union’s tailpipe emissions regulations, and China’s coming 14th five-year plan.
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