Energy demand will stay flat in North America and increase by 37 percent in Latin America between 2017 and 2040, according to a new forecast by ExxonMobil.
The study predicts that North America’s energy demand will be 108 quadrillion British thermal units in 2040, the same as in 2017, according to the study, “Outlook for Energy: A Perspective to 2040.” Oil and natural gas are expected to comprise 75 percent of that amount, with oil remaining the leader at 38 percent. Demand for natural gas in North America is expected to be 25 percent higher in 2040 than in 2017, while demand for oil is projected to remain essentially flat, declining 3 percent over that time. Coal is expected to show the steepest decline, dropping by 70 percent.
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