By 2040, half of all cars will be hybrids or running on alternative fuels; energy demand will be flat for the developed world but will increase 60% for developing nations, and non-conventional oil sources will handily meet the demand of 110m barrels.
Notwithstanding the huge jump in marketshare by 2040, "90 percent of the world's transportation will still run on oil-based fuels", the Exxon Mobil report predicted. In fact, according to William Colton, Exxon's strategic planning chief, the hybrid vehicles will only maintain oil's dominance as a transportation fuel because "the cheapest hybrids will be those that also use gasoline."
Nonetheless, environmentalists were pleased with this aspect of Exxon-Mobil's energy prediction regarding the widespread adoption of hybrid vehicles.
Deron Lovaas, Federal Transportation Policy Director at the Natural Resources Defense Council, said: "It's evidence that what the Obama administration is doing with fuel economy is working".
The report did stir some controversy within the fossil fuel industry as it predicted that natural gas, due to the boom in hydraulic fracturing, would replace coal as the second most widespread fuel behind oil - which was contested by the coal industry.
FULL STORY: Exxon Mobil predicts surge in hybrid vehicles
Pennsylvania Mall Conversion Bill Passes House
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World's Largest Wildlife Overpass In the Works in Los Angeles County
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How Transit Architecture Impacts Real and Perceived Safety
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New York Passes Housing Package Focused on New Development and Adaptive Reuse
The FY 2025 budget includes a new tax incentive, funding for affordable housing on state land, and support for adaptive reuse and ADUs.
LA Metro Board Approves New 710 Freeway Plan
The newest plan for the 710 corridor claims it will not displace any residents.
City of Costa Mesa
Licking County
Barrett Planning Group LLC
HUD's Office of Policy Development and Research
Mpact Transit + Community
HUD's Office of Policy Development and Research
Tufts University, Department of Urban and Environmental Policy & Planning
City of Universal City TX
ULI Northwest Arkansas
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This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
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Learn the tools for implementing Universal Design in planning regulations.