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Exxon: Oil Will Be Top Energy Source For Years

Wed, 05/28/2014 - 12:27pm

DALLAS (AP) -- The CEO of Exxon Mobil Corp. says alternative fuels will grow but that oil will remain the world's leading source of energy for another quarter century.

CEO Rex Tillerson says natural gas will surpass coal as the second most heavily used fuel.

Tillerson made the comments Wednesday at the company's annual shareholder meeting.

About 15 people protested outside the meeting hall, charging that Exxon was not doing enough to reduce climate change and develop alternative sources of energy to burning oil and natural gas. Shareholders were scheduled to vote on a resolution urging Exxon to set emission-reduction goals.

Tillerson said that the Irving, Texas, company has reduced greenhouse gas emissions over the past five years equal to taking nearly 2 million cars off the road.

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