Today a significant portion of the world’s people lack that access, preventing many from realizing their potential. Access to safe, reliable and affordable energy is a critical enabler of higher living standards, including longer and healthier lives. Society’s progress is intrinsically related to energy. These signposts allow for timely adjustments to the Outlook. The Company also considers scenarios including the Intergovernmental Panel on Climate Change Lower 2☌ and the International Energy Agency Net Zero Emissions by 2050 to help inform its thinking on the resiliency of its assets and the opportunities to evolve its businesses.ĮxxonMobil uses many scenarios to identify leading indicators of future developments. How are the Outlook and scenarios being used?ĮxxonMobil uses the Outlook as the basis for developing plans. In contrast, many scenarios start with a hypothetical outcome and work backward to identify the factors that need to occur to achieve that outcome.
What’s the difference between a projection and a scenario?Ī projection like the Outlook starts with current factors, such as policy and commercially available technology, and estimates how they might change over time. It is based on current and expected trends in technology, government policies, consumer preferences, geopolitics, and economic development. The Outlook reflects our view of global energy demand and supply through 2050. The Outlook considers these fundamentals to form the basis for long-term business planning, investment decisions, and research programs. These fundamentals include energy supply and demand trends the scale and variety of energy needs worldwide capability, practicality and affordability of energy alternatives including lower-emission solutions greenhouse gas emission-reduction technologies and supportive government policies. A deep understanding of long-term energy fundamentals underpins ExxonMobil’s business planning.
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