More coal, oil and natural gas will be needed in the coming decades to meet growing global energy needs. Even by 2050 these energy sources are expected to meet 60% of demand. Renewables and nuclear power may account for one-third of energy supplies, but this will depend on long-term government support.
Our strategy includes increasing our production of oil and gas to help meet this surging energy demand. We have invested heavily in production growth and have a target of 3.7 billion barrels of oil equivalent a day by 2014 (up 12% on 2010). We expect our direct greenhouse gas emissions to continue the rise that began with increased production across the company in 2010.
We are working on what we can do today to contribute to a sustainable energy future. Our efforts include four focus areas:
We offer online tips to customers to help them drive more economically. We are also beginning to offer products such as Shell FuelSave petrol and diesel, and services that can help customers to use less energy.
Government policies and decisions play a substantial role in determining long-term efforts to tackle climate change. We believe that a robust price for CO2 will be needed to encourage innovative companies to invest in lower-carbon energy solutions for the future. We support the implementation of market-based approaches by governments.
