Exxon’s Energy Forecast Predicts Coal to Come and Go, Oil on Top in 2040

Exxon Mobil Corp’s (NYSE:XOM) annual Energy Outlook was released with a forecasting range increased to 2040 from 2030, and a key takeaway is that electricity demand from a burgeoning global population would drive energy (NYSE:XLE) businesses around the world.

Projecting that population could be 9 billion by 2040, the report concludes that coal would peak out and decline, but this would be counter-balanced by a gain in the use of natural gas (NYSE:UNG). Also, shale and other rock formations would make up almost 30% of gas production by 2040; hybrid vehicles would be used more, and new vehicles could run an average of 50 miles per gallon.

All said and done, however, oil (NYSEARCA:USO) peak or not, would be the most widely used fuel.

Here’s how top oil and gas stocks are trading on the news:

Exxon Mobil Corp. (NYSE:XOM): XOM shares recently traded at $80.15, down $0.93, or 1.15%. They have traded in a 52-week range of $67.03 to $88.23. Volume today was 4,930,912 shares versus a 3-month average volume of 23,607,000 shares. The company’s trailing P/E is 9.68, while trailing earnings are $8.28 per share. Get the most recent company news and stock data here >>

Chevron Corp. (NYSE:CVX): CVX shares recently traded at $102.85, down $1.67, or 1.6%. They have traded in a 52-week range of $85.84 to $110.01. Volume today was 2,416,558 shares versus a 3-month average volume of 10,364,000 shares. The company’s trailing P/E is 7.62, while trailing earnings are $13.50 per share. Get the most recent company news and stock data here >>

BP plc (NYSE:BP): BP shares recently traded at $42.44, down $0.59, or 1.37%. They have traded in a 52-week range of $33.62 to $49.50. Volume today was 2,164,729 shares versus a 3-month average volume of 8,726,380 shares. The company’s trailing P/E is 5.87, while trailing earnings are $7.22 per share. Get the most recent company news and stock data here >>

ConocoPhillips (NYSE:COP): COP shares recently traded at $71.42, down $0.99, or 1.37%. They have traded in a 52-week range of $58.65 to $81.80. Volume today was 2,006,333 shares versus a 3-month average volume of 9,377,820 shares. The company’s trailing P/E is 9.16, while trailing earnings are $7.80 per share. Get the most recent company news and stock data here >>

Total SA (NYSE:TOT): TOT shares recently traded at $50.63, down $1.59, or 3.04%. They have traded in a 52-week range of $40.00 to $64.44. Volume today was 1,676,553 shares versus a 3-month average volume of 5,433,490 shares. The company’s trailing P/E is 7.08, while trailing earnings are $7.15 per share. Get the most recent company news and stock data here >>

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