- Exxon Mobil Corp. Chief Executive Officer Darren Woods criticized European energy policy, which in his view has gone too far by imposing 'punishing' measures like the European Union’s windfall tax.
- Exxon “stepped back and reevaluated” its investment strategy in the continent, he continued.
- US energy executives have a noticeable spring in their step due to record profits and $128 billion of cash showered on shareholders in the past year as well as a sense of turning a corner in the climate debate.
- BP Plc and Shell Plc’s recent pivots toward investing more in oil and gas only reinforce the consensus that it’s going to be hard to kill off fossil fuels.
- Exxon's stock is up 134% since the pandemic, nearly double the performance of its closest peer Chevron Corp.
Exxon Has a Message for Europe: Don’t Mess With Oil and Gas
CEO Woods says the continent’s ‘punitive’ measures against fossil fuels are prompting majors to reconsider — and relocate — their investments.
Kevin Crowley
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