Report: ExxonMobil Presents a Pessimistic View on Climatic Change

ExxonMobil, the world's largest oil company, is due to publish its annual Outlook for Energy in the next few weeks. However, the conclusion of the report is rather disheartening for it claims that carbon emissions were bound to rise to nearly 25 percent in the next two decades. Hence, the chances that changes in climate can be arrested are pretty bleak.

With the demand for energy slated to increase by nearly 40 percent and carbon emissions to lift by 0.9 percent a year, the prospects of catastrophic climate change seems to loom over us, at least for the next twenty years, according to the report. Beyond 2030, aggressive gains in energy efficiency and the use of less carbon-intensive fuels seem to be the only way out. By then, new technologies will also be required.

However, both the government and scientists seem to be more optimistic than Exxon is, for they maintain that global carbon emissions can be reduced considerably and climatic change be averted if they acted proactively within the next decade.

According to the report, even in 2030, although fossil fuels will still remain the predominant energy source, other types of energy will grow sharply. Nuclear, wind, solar and bio fuels will see strong growth, especially in the power-generation sector, and by 2030, almost 40 percent of the world's electricity would be from nuclear and renewable resources. By this time, the Exxon report suggests that the U.S. will have reduced its dependency on foreign oil, and the culprits for increased carbon emissions would be the developing in non-OCED countries. 

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