ExxonMobil Investing $2 Million per Day in R&D and Continues More Than $11.8 Billion in Projects to Meet Increasing Energy Demand

SUGAR LAND--September 9, 2008--Researched by Industrial Info Resources (Sugar Land, Texas)--From now until 2030, the world's energy demand is expected to increase at an average of 1.3% every year, and meeting the rising demand will require that all commercially viable energy sources are pursued, Mark Albers, Senior Vice President of ExxonMobil (NYSE:XOM) (Irving, Texas), said at the 2008 CEO Energy/Power Conference hosted by Lehman Brothers (NYSE:LEH) (New York, New York). The main drivers of growing demand will be power generation and transportation at 1.5% and 1.7%, respectively, he said. Oil and natural gas will continue to supply the majority of the world's energy needs.