Exxon: By 2040, 90 percent of the world's transportation will still run on oil-based fuels [View All]

[txlibdem]

By 2040, 90 percent of the world's transportation will still run on oil-based fuels, Irving, Texas-based Exxon said. And drillers will find more than enough oil to satisfy a 25-percent jump in global fuel consumption. At current demand levels, Exxon estimated that the world has enough oil to last 100 years.

William Colton, Exxon's strategic planning chief, said vehicle mileage standards may push people toward battery-powered cars, but the cheapest hybrids will be those that also use gasoline.

Plus, petroleum packs a punch that simply cannot be beaten by a battery alone. "One gallon of gasoline has enough energy to recharge an iPhone for almost 20 years," Colton said in a conference call with journalists.

Analysts have been predicting a rise in sales of hybrid vehicles, especially since the auto industry agreed in July to boost mileage requirements. Those requirements, proposed by the Obama administration, call for doubling the average fuel efficiency of U.S. vehicles to 54.5 miles per gallon by 2025.

http://online.wsj.com/article/APdc7826baa55140c6b6823cc7ac1d4251.html

This from the "they have to tell that lie" file, of course.

The real question is: since low lying areas are already experiencing salt water contamination of their aquifers (Tuvalu and Kiribatu), in 2040 can we live in a world that includes Exxon and 90% oil-based transportation?