Vincent Boland: Exxon loses its way as oil giant goes from leader to laggard

Climate change is now about business rather than emotion and Exxon-Mobil must reinvent itself if it is to catch up with its rivals in the transition to clean energy

7th February, 2021
Vincent Boland: Exxon loses its way as oil giant goes from leader to laggard
Exxon bosses were so well connected that Donald Trump tapped one of them, Rex Tillerson, to be his first secretary of state

Once upon a time, when Big Oil was in its pomp, it must have been fun to work at ExxonMobil.

For decades, the Texas oil giant was one of the world’s richest companies, its value on the stock market reaching $500 billion at one point. In 2008, it had revenues of $425 billion and profits of $45 billion, and it generated more barrels of oil every day than some oil-producing states.

Exxon’s army of mostly male employees,...

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