‘Oil, gas, coal to make up bulk of energy sources by 2040’

17/04/2014 06:03 AST

Oil, gas and coal will continue to make up the bulk of the energy supply, with natural gas pegged as the fastest growing source by 2040, when the world’s population will rise by more than 25% to reach almost 9bn, said Bart Cahir, president and general manager of ExxonMobil Qatar.

Cahir, who recently spoke at Carnegie Mellon University in Qatar as part of the ‘Dean’s Leadership Series’, said population growth, along with improved standards of living, would translate into increased energy demands over the coming decades.

Speaking on “Energy in the 21st century,” Cahir dwelt upon the importance of studying the links between population growth, economic progress, and the amount and types of energy used around the world.

“Energy plays a fundamental role in powering economies, enabling modern life and supporting progress and development. Thus the world faces a tremendous and growing challenge: The need to develop new sources of energy and to do so in a safe, secure, and environmentally responsible way. That’s our challenge and our business at ExxonMobil and it is one that begins with economics, and some of the key drivers for ever-increasing energy demand,” Cahir said.

“The Dean’s Leadership Series is part of our efforts to connect students with industry leaders, who will share their insights and inspire future innovations,” said Ilker Baybars, dean of Carnegie Mellon University in Qatar.

Cahir drew his observations from ExxonMobil’s annual ‘Outlook for Energy’ report, which examines trends in the types of energy the world will need and where that energy will come from.

Cahir highlighted how ExxonMobil was making investments in research and development that would unlock new resources, improve the efficiency of its operations, and increase the value of its products.

With Carnegie Mellon Qatar celebrating its 10th graduating class in early May, Cahir gave career advice based on his 20-year service with ExxonMobil in the US, Asia and the Middle East.

“I encourage you to never stop learning, be enthusiastic and engaged with the world around you and remember that integrity in everything you undertake matters,” he said.

The Dean’s Leadership Series was established in 2012 to connect students and fresh graduates with senior executives.

Gulf Times