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A large publicly traded company states expectations that their business model -- which they cannot change -- will still be viable in 25 years.

• RandomThoughts3 2y ago
  They are filthy rich. They could diversify in preparation for a complete pivot if they wanted to - other majors are - but for some reason Exxon seems completely stuck.
• silverquiet 2y ago
  If you look at a chart of worldwide energy mix[0], you'll see that no energy source has ever really substituted for another. Coal is "old" but we are still burning it at as high a rate as ever; we've merely added more sources of energy as we've advanced. Our thirst for energy seems insatiable, so Exxon seems to be reading the situation correctly. Obviously we will destroy ourselves with this behavior, but hopefully only after I've passed on. [0]https://ourworldindata.org/energy-mix https://ourworldindata.org/energy-mix
  • bryanlarsen 2y ago
    If you look at a country level you find a very different story. Coal usage in any Western country has declined substantially.
    • silverquiet 2y ago
      In spite of our human tendency to divide ourselves into smaller groups, we all share one planet, and particularly relevant, one atmosphere. Perhaps developing countries can leapfrog to renewables, but if they have easily accessible fossil fuels, it seems likely that they will be exploited; they are irresistible if you ignore the negative externalities.
      • trilbyglens 2y ago
        It already happening in places all over Africa.
      • bryanlarsen 2y ago
        If they have easily extractable fossil fuels, they're already extracting them. For everybody else, renewables are far cheaper.
    • snapplebobapple 2y ago
      Per country is pretty irellevant for this issue. Also, its pretty unclear to me that the per coi try is true when the third world tha% upped coal usage to compensate are atleasy partially using it for good to export and increased standard of living from higher paying export jobs