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Inside Energy

Rex Tillerson says that energy enables economic growth and social progress in countries around the world.

H.E. Rex W. Tillerson, Chairman and Chief Executive Officer of ExxonMobil

Because of energy’s universal importance, it is essential that not only those of us in the energy industry, but also leaders from across government, business and civil society as well as consumers at large understand the fundamental realities that govern energy demand and supply worldwide, and the prospects for meeting our shared economic and environmental goals.

ExxonMobil expects global energy demand in 2030 to be about 35 percent higher than in 2005. Demand growth would be far higher with 2030 energy consumption nearly double 2005 levels were it not for expected improvements in energy efficiency.

We will need to continue to expand all available energy sources to meet this substantial increase in demand. These sources must include oil, natural gas and coal, which by 2030 will continue to meet about 80 percent of the worlds energy demand. Technology will continue to evolve and play a key role in increasing efficiency, expanding supplies and mitigating emissions. These three elements must be pursued with vigor and constancy of purpose in order to meet our global energy and environmental challenges.