Exxon See Growth in Alternative Energy

11.06.07

In a report that predicts steady growth in petroleum demand in the decades to come, Exxon Mobile also see rapid growth in alternatives fuel.

While petroleum oil is forecast to grow an average of 1.3% annually, alternative sources of energy such as wind, solar, and biofuel will grow by 9% per year, according to the oil giant.

Exxon says carbon dioxide emissions will rise at 2% a year, driven mainly by developing nations' heavy reliance on coal. This would push carbon dioxide emissions to about 37 billion metric tons a year from 27 billion tons in 2005.

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