ExxonMobil CEO says energy demand set to rise by 30% to 2040

platts.com
Riyadh (Platts)--21Nov2011/740 am EST/1240 GMT

Global economic output is set to double as the global population grows to 8.7 billion people by 2040, when global energy demand will be 30% higher than it was in 2010, ExxonMobil CEO Rex Tillerson said Monday.

Speaking in Saudi Arabia at the launch of the King Abdullah Petroleum and Research Center, Tillerson said meeting that all sources of energy would need to be harnessed "wherever they are economically competitive" to satisfy this demand.

However, developing new sources of energy alone will not be enough without effective policies to improve energy efficiency.

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