Asia-Pacific energy demand to grow by 1.8%, ExxonMobil CEO says

Asia-Pacific demand for energy products will grow 1.8% annually in the next 20 years as China, the world’s second-biggest energy user, increases fuel consumption, said Rex Tillerson, ExxonMobil Corp.’s chief executive officer. China is expected to double its current power capacity in the next two decades and quadruple the number of cars on its roads, he said. Demand is “being driven by growth in car fleets, more transportation capability, maritime freight transportation,” said Tillerson. “It’s also driven by enormous growth in demand for chemical feed stocks.” (November 16, 2009)