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Exxon Mobil (NYSE:XOM) – Increase In Hybrid Automobiles Forecasted

Contributed by StockPriceToday

Exxon Mobil forecasted that by 2040, 50% of vehicles will be running on hybrids or other alternative fuel. Hybrids, which depend on both electricity as well as gas for power presently comprise below 1 percent of all vehicles.

Power for hybrids, together with other automobiles and an increasing number of homes all over the world, will progressively originate from renewable energy resources such as wind, nuclear power as well as natural gas.

Increased usage of hybrid automobiles, coupled with other advantages in the field of fuel efficiency, would maintain power demand in check for years, making up for higher fuel demand from companies and homes.

Exxon (XOM) predicts that in developed countries energy demand will not change through 2040. China as well as other developing countries will maintain to enhance their thirst for oil. Energy demand in developing countries is supposed to increase almost sixty percent starting from 2010 to 2040.

Overall, advances in efficiency will assist the international economy. Exxon forecasts that from nowadays through 2040, world GDP would increase at the rate of 2.9% each year although energy demand increases by just 0.9%. Royal Dutch Shell and BP also have forecasted a greater role for natural gas in power production.

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