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Exxon is one of the top 5 investors in renewables research. They're not idiots, they know they're going to run out of oil, and they're legally obligated to make
by huffmsa 7y ago
Exxon is one of the top 5 investors in renewables research. They're not idiots, they know they're going to run out of oil, and they're legally obligated to make sure their shareholders don't lose all of their money. So they're preparing for the future.
- fallingfrog 7y agoAll the fossil fuel deposits and companies in the world are worth probably at least 10 trillion dollars. Not to mention the value of all the businesses that depend on the products they sell. You think they’re going to just write that off? They’re going to fight with every bit of strength they have to make sure that the fuels are available to extract, and every government in the world is going to help them. I just want us to all understand what we’re up against.
- huffmsa 7y agoThey are going to, of course. But they're also looking forward to make sure they don't have to go bankrupt.
- fallingfrog 7y agoI hope you’re right of course but from what I’ve seen over the last 20 years, most companies only look one quarter in the future, if that.