ExxonMobil's annual Energy Outlook warns that global CO2 emissions will hit 30 billion metric tons in 2050, nearly three times the level needed to stay within the 2C climate target. The forecast is 10% higher than last year, driven by slower adoption of carbon capture and coal's continued dominance in power generation, especially in Asia. The company projects a temperature rise of 2.5-3C by mid-century, well above the Paris Agreement goal. The outlook also cuts projections for carbon capture and low-carbon hydrogen by a third, citing affordability and lack of willingness to pay. Electricity demand is expected to rise 65% by 2050, with US data centers doubling their power share within five years, but permitting and infrastructure constraints remain major hurdles. The report underscores the gap between stated climate ambitions and actual deployment of mitigation technologies.
