The fall of Exxon Mobil, the world's biggest oil company, explained - Business Insider

"How oil companies adapt to the energy transition will be a multi-decade story," Molchanov said. "Companies that are the most proactive in pivoting their business to reflect the energy crisis are European. COVID is temporary; the energy transition will not go away."

"It's one thing to have a lot of confidence and bravado, as Exxon has for years, but when things start getting as tight as they are now, and they are tight, how can you not change your stripes," Mark Stoeckle, chief executive of Adams Funds,The pandemic and long-term shift to renewable energy will take large tolls on the oil and natural gas industry as a whole.

Woods, in the same October 21 email, expressed optimism about the state of oil demand in the years to come, even as the company soon afterward made"Some believe the dramatic drop in demand resulting from the coronavirus reflects an accelerating response to the risk of climate change and suggest that our industry won't recover," Woods wrote.

Over the years, Exxon's scope of influence has taken a backseat to the rise of Silicon Valley's tech giants. The

well they are profiting off destroying the environment...

Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

See the key employees who run Exxon Mobil in our exclusive org chart - Business InsiderBusiness Insider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know. Save for that rainy day boys, cannot wait till SaudaArabia drinks their oil. Just another dictatorship that is a bad actor in the world. How are things with the capitol now?
Herkunft: BusinessInsider - 🏆 729. / 51 Weiterlesen »

Exxon Mobil reports $20 billion loss for Q4 2020 citing pandemic - Business InsiderBusiness Insider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know. Regret is a waste of energy. Don't stay home and not get paid, buy Bitcoin and register with a license trading company to earn guaranteed Passive income (13% interest on all your investment) lisaMakT JohnKerry should be happy. the sixth mass extinction event is happening.
Herkunft: BusinessInsider - 🏆 729. / 51 Weiterlesen »

Exxon Mobil signals better first-quarter earnings as oil prices climbExxon Mobil Corp expects rising first-quarter results across its three major businesses, with an at least $2 billion improvement from prices for oil and gas driving profits, the company signaled in a securities filing on Wednesday. - Google, show me a picture of the Devil's Anus.
Herkunft: Reuters - 🏆 2. / 97 Weiterlesen »