Efficiency gains expected to slow growth in energy usage

May 17, 2013 | 05:21 PM | Corinna Petry

Tags  energy demand, Todd Onderdonk, ExxonMobil, AISI, energy, oil, coal, natural gas Corinna Petry

COLORADO SPRINGS, Colo. — Drivers for energy demand include population growth and economic activity. While the world population will grow to 9 billion by 2040 from 7 billion, economies around the world are becoming more efficient with their energy consumption, and at an accelerated pace.

This modifies demand somewhat, allowing it to grow more slowly than either economies or population, Todd Onderdonk, ExxonMobil Corp.’s senior energy advisor of corporate strategic planning, said. "Electricity is the largest source of energy demand today, when 100 years ago it was a novelty," he said May 17 at the American Iron and Steel Institute’s general meeting, co-hosted by the....

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