(NEW YORK) — Natural gas looks set to replace coal as the world’s second biggest energy source by 2025. The forecast comes from oil giant ExxonMobil in its latest energy report.
Oil and Gas Journal reports demand for gas will grow by 65 percent by 2040, and 20 percent of global production will be in North America.
According to ExxonMobil’s 2013 outlook, “electricity demand will account for more than half the global energy demand increase over the next few decades, with gas, nuclear, and renewable energy meeting more power generation demand as coal and oil meet less,” the Journal says.
Copyright 2012 ABC News Radio
Jose Pagliery, CNN Newswire
Brian Stelter, CNN Money