ExxonMobil CEO Rex Tillerson has said that continued growth in energy demand is cause for considerable optimism about economic recovery and progress. Speaking at the 20th World Petroleum Congress in Qatar, Tillerson said that sound policies, industry integrity and public energy awareness will be key to meeting energy challenges in the years ahead.
“By understanding our strengths and proper roles in economic expansion, we can clarify our policy choices, fulfill our core responsibilities and open up economic opportunities for decades to come,” said Tillerson. He added that ExxonMobil expects the global economy to double in size between 2010 and 2040, with energy demand growing by over 30% in that period. To meet that, Tillerson argued, the world must invest in and develop all economically competitive forms of energy.
“The energy and economic challenges the world will face in the decades to come require a business and policy climate that enables investment, innovation and international cooperation,” said Tillerson. “Sound policies and government leadership are critical. When governments perform their roles effectively, the results are extraordinary – bringing enormous benefits in terms of investment, enterprise, economic growth and job creation,” he added, arguing that the key to unlocking new economic growth was for industry, governments and society at large to focus on their respective roles and responsibilities. “By understanding our strengths and proper roles in economic expansion, we can clarify our policy choices, fulfill our core responsibilities and open up economic opportunities for decades to come,” Tillerson explained.
ExxonMobil who have a strategy to focus on upstream, have been withdrawing from the fuel retail business around the world in recent years. At the same time trying to keep the Esso brand in the global service station network has been a challenge.
PetrolWorld 07122011
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