Energy 2040: Oil, Gas Will Still Be In High Demand

The world’s energy business—on both the supply and demand sides—will change drastically by 2040 but oil and gas will continue to be dominant energy sources even as renewables proliferate. The big loser will be coal, although demand for the rock that burns continues to soar among Asia’s rapidly growing economies.

Those were among the points a dozen industry observers made at the 30th annual Texas Energy Council Symposium, held on the Southern Methodist University campus. The council is a nonprofit organization of professional and educational groups based in Texas.

Rob Gardner, manager of the economics and energy division in corporate strategic planning at ExxonMobil, told the conference the supermajor takes research done in his department very seriously as it develops operating plans.