Energy

Exxon Mobil says the world will require trillions of dollars in investment in energy infrastructure to meet an expected 35% increase in demand between 2005 and 2030, according to the oil giant's annual Outlook for Energy report released on Tuesday.

Exxon Mobil said oil, natural gas and coal will continue to meet most of the world's needs, "because no other energy source can match their availability, versatility, affordability and scale."



The fastest-growing of these fuels will be natural gas, "reflecting its abundance, versatility and economic advantages as an efficient, clean-burning fuel for power generation," Exxon Mobil said.

Among this year's findings, Exxon Mobil said wind, solar, and biofuels will grow by about 10% a year through 2030 to comprise a 2.5% share of total energy by 2030. Exxon raised its forecast for alternative energy from a year ago, when it predicted 2.1% of global energy will come from non-fossil fuels by 2030. In 2007, it forecast 1.8% of global consumption from alternative energy by 2030.
 
 
Credit -marketwatch, -buttonssound, -topnews