STOHF - Reality Intrudes For Exxon Mobil As Biden Presidency Approaches

• Global leaders, including President-elect Biden, IEA, major corporations, emphasise importance of Paris Agreement goals to achieve net zero emissions by 2050.
• These are not normal times for oil; vaccines notwithstanding, COVID-19 isn’t going away any time soon, the BEV revolution is underway, and where oil pricing is going is anyone’s guess.
• Renewable energy is taking over new global power supply and this will allow clean energy to power the BEV revolution. XOM’s reserves don’t mean much if they won’t be exploited.
• Carbon capture myths beginning to surface to make clear this is not a route to continued fossil fuel exploitation.
• Various developments make XOM’s business plan to accelerate fossil fuel exploitation unsustainable. Think about this when considering investment in XOM.

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