Irving-based Exxon Mobil has announced that it will spend about $150 billion over the next five years to find more oil and natural gas to meet an expected increase in global energy demand. Huge investments are needed to expand the supply of traditional fuels like oil and gas while also advancing new energy sources. Exxon expects global energy demand to increase 30 percent and plans to boost its capital budget by 29 percent to $185 billion, or about $37 billion a year.

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