The Outlook for Energy: A View to 2040
Location:Eck Visitors Center Auditorium
The world’s economy literally runs on energy. To support continued economic progress for the world’s growing population, more energy will be needed. Even with significant improvements in energy efficiency, the world’s total energy demand is expected to be approximately 40 percent higher by 2040 than it was in 2010. The vast majority of this demand increase will take place in developing countries, where economies are growing most rapidly and modern energy supplies are still a precious commodity for millions of people. Meeting higher energy requirements poses many challenges, including boosting efficiency, developing new supplies and managing environmental risks. This presentation summarizes ExxonMobil’s long-term outlook for energy. The outlook is developed annually via an ongoing assessment process that has been conducted over decades. The results assist ExxonMobil’s business planning, and are shared publicly to help build understanding of the world’s energy needs and challenges. The presentation focuses on energy demand to the year 2040, with particular emphasis on the increasing needs of the power generation and transportation sectors. It also examines how rising demand will be met from the various energy sources available, including fossil fuels, nuclear power and renewable energies. It also provides insight to the challenge of meeting growing energy needs while significantly mitigating greenhouse global carbon dioxide emissions.
Thomas F. Degnan, Jr.
ExxonMobil Research and Engineering Company
Tom received his B.S. in chemical engineering from the University of Notre Dame, a Ph.D. in the same discipline from the University of Delaware, and an M.B.A. in Finance from the University of Minnesota. He spent four years in 3M’s Central Research organization in St. Paul, MN before moving to Mobil Research and Development in 1980. Tom has spent most of his career in exploratory process development, catalysis, catalyst development, and research management working for Mobil and now ExxonMobil Research and Engineering Company. He is presently Manager, New Leads Generation and Breakthrough Technologies and is located at ExxonMobil’s Clinton, NJ facility. He is a member of the North American Catalysis Society, the American Institute of Chemical Engineers, the American Chemical Society and the Research and Development Council of New Jersey.