ExxonMobil and Its Rivals Learn They Can’t Ignore Climate Activists
In Big Oil’s good old days, the annual shareholders’ meetings of Irving-based ExxonMobil, the largest publicly traded oil company on the planet, were polite and lavish affairs. Typically hosted in luxe venues—Dallas’s Morton H. Meyerson Symphony Center was a favorite—the gatherings featured retired small-time investors tucking into buffets of free comfort food and executives congratulating themselves on yet another year’s healthy dividend. A handful of shareholder activists might demand a new direction, notably on climate change, but they were dismissed as crazies with no concept of how big-boy capitalism worked. That golden era has been waning for a while. The past year has been particularly awful for the oil industry, with the pandemic slashing economic activity and with the rise of alternatives to fossil fuels.…View Original Post
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Source: Texas Monthly