ExxonMobil says biofuels will provide less than 3 percent of fuel demand, hydrogen fuel not a factor before 2030

Scott Nauman, Manager for Economics and Energy in the Corporate Planning Department of ExxonMobil, spoke at the Florida International University Energy and Business Forum on Wednesday in Miami. He spoke about the Global Energy Outlook through 2030.

Mr. Nauman informed the audience that ExxonMobil is investing $100 million into a $225 million, 10 year, cellulosic ethanol R&D project in conjunction with GE and Stanford University but that “cellulosic ethanol will not happen in the next 5-15 years” on a commercial scale.

He went on to say that in ExxonMobil’s view biofuel production will only make up 3 million barrels a day out of an estimated 116 million barrels a day by 2030.

While Mr. Nauman said that ExxonMobil is not opposed to blending ethanol with gasoline the company has no immediate plans to integrate an increase of biofuels into the supply chain.

He also said that hydrogen will not play a significant role in transportation looking ahead to 2030 either. According to Mr. Nauman, 60% of the energy supply will continue to come from oil, coal, and natural gas with the rest being comprised of nuclear, hydroelectric, and wind.

The event was organized by the Applied Research Center and the College of Business Administration at FIU, and sponsored by the Jack D. Gordon Institute for Public Policy and Citizenship Studies, Program for National Security Studies.

- Reported from Miami by Sean O’Hanlon 

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