ExxonMobil Believes the World Will Need a Lot More Energy in the Future

ExxonMobil (NYSE: XOM) is a firm believer that oil will remain vital to fueling the economy for decades to come. This view drives it to continue investing in oil projects. However, the company's focus is on the bigger energy picture, which is much broader than oil. It aims to participate in the overall growth in energy demand, no matter which direction the world ends up heading. Here's a closer look at ExxonMobil's long-term outlook for the energy market and how that frames its investment strategy.Exxon's CEO Darren Woods discussed the company's energy outlook on its recent second-quarter conference call. He highlighted that the report "projects global energy demand at 15% higher in 2050 than it is today. We see oil demand holding steady at around 100 million barrels per day in 2050, while demand for renewables and natural gas grows considerably." He noted that growing energy demand "creates opportunity for ExxonMobil, no matter the speed or direction of the energy transition." Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool