Why Exxon and Chevron are doubling down on fossil fuel energy with big acquisitions
Publishing timestamp: 2023-10-25 09:39:14
Summary
Chevron and Exxon Mobil are acquiring oil and gas companies, indicating their belief in the long-term viability of the oil industry. Despite growing momentum in clean energy, the demand for oil and gas is expected to continue due to population growth and the cost-effectiveness of hydrocarbons. The acquisitions also provide geopolitical opportunities and access to valuable reserves.
Sentiment: MIXED
Keywords: business news, pioneer natural resources co, energy, oil and gas, climate, chevron corp, hess corp, environment, exxon mobil corp,
Source: https://www.cnbc.com/2023/10/25/why-exxon-chevron-are-doubling-down-on-fossil-fuel-energy.html