News Summary: Exxon long-term energy outlook

News Summary: Exxon long-term energy outlook

Associated Press

NEW YORK (AP) -- WHAT'S AHEAD: Exxon says oil and natural gas production in the U.S. and Canada will continue to grow, making North America a net energy exporter by 2025.

POWER PLAY: The company expects natural gas to replace coal as the No. 2 fuel by the middle of the next decade. Natural gas, nuclear and renewables will contribute more to electricity production, while coal use will decline.

OIL STILL RULES: Exxon expects there to be plenty of oil left to power cars, trucks and planes, forecasting that by 2040 less than half of the world's recoverable oil will have been produced.

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