NEW YORK — There will be 400 million more cars on the world’s roads 20 years from now, yet gasoline consumption will decline, according to a projection from Exxon Mobil Corp. in its long-term energy outlook released Thursday.
The world’s biggest investor-owned oil and gas company expects energy use overall will grow 35 percent by 2030. But that growth would be three times higher if people used as much energy per capita as they do now.
Nowhere is that more apparent than in projections of gasoline demand. People in developing countries, especially China, will drive millions more cars and gas demand will grow, but the cars will be more efficient than those of the past. Meanwhile, improvements in fuel efficiency in the U.S. and Europe will create a drop in demand that more than matches Asia’s growth. Demand for fuel for passenger vehicles will decline by 20 percent in the U.S. and by one-third in Europe by 2030.
Among the wild cards: batteries for electric cars, such as the Chevrolet Volt. A cheap, lightweight battery that stores a lot of energy and can be easily recharged could cut sharply into demand for fuel. The Associated Press
