“Investors want Exxon Mobil to pivot. Here’s the oil giant’s new playbook”
November 9, 2021
“…Over the summer, investors forced a change on Exxon’s board. Since then, the company has been speeding up plans for its green economy pivot, which includes carbon capture and storage. Carbon capture is the process of capturing CO2 at its source. Companies can store the carbon dioxide permanently, but it is more profitable and common to use the captured carbon in further fossil fuel production…
The company told CNBC it will try to flatten its production of fossil fuels through 2025, depending on market conditions. More changes could come as regulators around the world zero in on climate…”
Ok let me get this straight? Investors want Exxon to do something that is less profitable? Something is wrong with this picture. In any case big changes lie ahead for this company.