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
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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