ESOCF - Exxon Mobil: Success Is About More Than The Oil Price
- Seeking Alpha authors continue to be optimistic about XOM based on big reserves and potential bonanza from carbon capture.
- Reality is an upcoming COP-26 climate summit that is focusing on net zero by 2050 and 50% reduction in emissions by 2030. These goals are not compatible with XOM’s business.
- Enel CEO Francesco Starace says the renewables sector is growing at a staggering pace. He sees the oil and gas industry as a source of disciplined and skilled engineers.
- XOM is still refusing to contemplate the renewables transition, insisting on expanding production and developing CCS. This is a path to nowhere.
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Exxon Mobil: Success Is About More Than The Oil Price