Exxon's (XOM) Rex Tillerson predicts global energy demand will grow 35% by 2040, a view broadly...

|About: Exxon Mobil Corporation (XOM)|By:, SA News Editor

Exxon's (XOM) Rex Tillerson predicts global energy demand will grow 35% by 2040, a view broadly shared by BP's Bob Dudley. But producing oil from unconventional sources can cost as much as $50-$75 a barrel, and even higher deep offshore. That's the challenge ahead; even Tillerson says he never expected to spend an expected $38B/year through 2017 to get just a 2%-3% uptick in annual production.