What have provided an abundance of supply and unprecedented

What resources will be available to meet the world’s increasing demand
for more energy?

 

 

Recent technology advancements have provided an abundance of supply and
unprecedented range of energy choices – from the oil and natural gas in
America’s shale regions to the deepwater fields off the African coast; from new
nuclear reactors in China to wind turbines and solar arrays in nations around
the world. The global energy supply mix will shift over the next two-and-a-half
decades. Society’s push for lower-emission energy sources will drive
substantial increases for nuclear power as well as renewables such as wind and
solar. By 2040 nuclear and all renewables will be approaching 25 percent of
global energy supplies. Oil will remain an essential energy source for
transportation and chemicals production. Natural gas, increasingly used for
power generation as utilities look to switch to lower-emissions fuels, will
expand its share of the energy mix. Gas will overtake coal as the world’s
second-largest fuel in about a decade. The world has been undergoing an energy
supply revolution in recent years, with significant oil and natural gas
production increases from American shale fields rewriting the narrative of
scarcity and limits that has prevailed since the 1970s. North America, which
has been an oil importer for decades, is on pace to become a net exporter of
oil in just a few years. These advances have stimulated a new “age of
abundance” in energy supplies, which is good news for billions of people
seeking to advance their standards of living but not necessarily for the
environment.( Exxon Mobil Energy Outlook) 

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