ExxonMobil executives said that energy demand and resource diversity will grow throughout the next 30 years. According to the company’s vice president of corporate strategic planning, William Colton, global demand for energy will increase by 35% by 2040.

“Energy is fundamental to our way of life and our future prosperity,” Colton said while speaking in Washington, D.C. last week.

He added that energy demand will increasingly be met by more efficient sources such as natural gas, nuclear power and renewables, but oil will remain the most widely used fuel source ...