The International Energy Agency recently released a report that predicted the United States would become the world's largest exporter of oil by 2030. In the following weeks, numerous other companies and research organizations have announced their predictions for the energy industry.
Fuel Fix reported that Exxon Mobil predicts oil will remain the most-used fuel in the world through 2040. While others have predicted renewable energy sources will become more dominant in the coming decades, Exxon Mobil said oil will stay at No. 1 and natural gas will overtake coal for the No. 2 spot.
The Associated Press reported that the energy company expects oil and gas production in the United States and Canada will make North America a net exporter of oil and natural gas by the mid 2020s. Most of the world's demand for energy will occur in developing countries, the Exxon report stated, while demand remains flat in developed countries. The article also states that natural gas is expected to overtake coal by 2025.
Hydraulic fracturing will help make North America a leader in natural gas production and distribution, Fuel Fix reported.