ExxonMobil CEO Talks Energy, Diversity

Rex Tillerson gives insights on environment, gas prices, taxes

going to account for 60% of our energy. It’s not because there’s not going to be enormous growth in alternatives: bio-fuels, solar, wind, and some growth in nuclear over this time period. All of these alternatives start at a very small base. It’s because the energy consumption in this country and in the world is so enormous.

We can send 44,000 gallons of oil per second. Alternative fuels such as ethanol can produce 50 million gallons of ethanol a year at a world-scale ethanol plant. That is about eight hours of supply. They will grow, and they will grow rapidly, but they are starting at essentially zero. Even when you grow something at a double digit rate, 25 years from now alternative fuels will comprise about 3-4% of the supply and that’s all. It doesn’t mean we shouldn’t do it. Particularly in the U.S. we’ve got to develop all of the options because we are going to need them all.

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