Rex Tillerson, chairman and CEO at ExxonMobil blasted the major oil consuming nations' governments for their energy isolationism. Noting specifically, that "no conceivable combination of demand moderation or domestic supply development can realistically close the gap and eliminate Americans’ need for imports[.]”
U.S. domestic oil and gas production is in decline (the current boom in investment is at best softening the deceleration of production) and the most educated projections of renewable energy share of total energy production by 2030 in developed nations is around 2.7% of total energy production. This is significant growth, but the days of fossil fuel energy are here to stay. Realistic energy policy should take into account these constraints.