Experience tells us that a good foundation is critical for success in the Arctic and elsewhere. ExxonMobil's Sakhalin-1 project with Rosneft is an example where we have put this experience to work.

When coal came into the picture, it took about 50 or 60 years to displace timber. Then, crude oil was found, and it took 60, 70 years, and then natural gas. So it takes 100 years or more for some new breakthrough in energy to become the dominant source. Most people have difficulty coming to grips with the sheer enormity of energy consumption.

By the year 2040, the world's population is likely to increase by about 2 billion people, with also projected economic output will be up about 130 percent versus the year 2010.

Rex Tillerson Quotes