I don't disagree, but Exxon might have had the cachet, especially in the 1980s, to speed up decreasing the carbon intensity of the economy. The entire energy se

I don't disagree, but Exxon might have had the cachet, especially in the 1980s, to speed up decreasing the carbon intensity of the economy. The entire energy sector is now <= 5% the size of the entire S&P, down from 18%, so it's unclear if energy companies still have that level of cachet. Now, going forward, in 2020, there might be a different calculus. Usually, the market cap/stock price of a company reflects future cash flow. For an E&P company, much of Exxon's valuation comes from the cash flow expectation on its oil reserves. That's problematic if some of those oil reserves are in effect stranded assets. Certainly not all will likely, but say, things like the tar sands? It very well could be.