Sunday, August 1, 2010

Fuel Efficient Vehicles Expected to Help Reduce Energy Demand

According to ExxonMobil, economic activity and population growth will drive up global energy demand by 35 percent between 2005 and 2030. However, significant efficiency gains will cause energy demand in the United States and other Organization for Economic Cooperation and Development (OECD) countries to decrease slightly by 2030, even though their economies are expected to average 50 percent growth over this time period.

While the most growth in transportation energy demand has traditionally come from the light-duty passenger vehicle segment, increasingly efficient vehicles are expected to flatten demand. In fact, in OECD countries, personal transportation energy demand is expected to drop 25 percent by 2030, while heavy-duty vehicles will compose the largest portion of transportation energy demand. Among the fuel efficient vehicles expected to help contribute to shrinking energy demand are hybrid vehicles, which will represent about 15 percent of the personal vehicle market by 2030, compared to less than one percent today.

Efficiency gains and shifts to lower-carbon fuels are expected to decrease energy-related CO2 emissions in the United States and other OECD countries by about 15 percent, bringing them down to 1980 levels by 2030.