SOURCE: Industrial Info Resources

September 09, 2008 05:30 ET

ExxonMobil Investing $2 Million per Day in R&D and Continues More Than $11.8 Billion in Projects to Meet Increasing Energy Demand, an Industrial Info News Alert

SUGAR LAND, TX--(Marketwire - September 9, 2008) - Researched by Industrial Info Resources (Sugar Land, Texas) -- From now until 2030, the world's energy demand is expected to increase at an average of 1.3% every year, and meeting the rising demand will require that all commercially viable energy sources are pursued, Mark Albers, Senior Vice President of ExxonMobil (NYSE:XOM) (Irving, Las Colinas), said at the 2008 CEO Energy/Power Conference hosted by Lehman Brothers (NYSE:LEH) (New York, New York). The main drivers of growing demand will be power generation and transportation at 1.5% and 1.7%, respectively, he said. Oil and natural gas will continue to supply the majority of the world's energy needs.

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