[Read: Climate Activists Defeat Exxon in Push for Clean Energy]
Giant is not exaggerating when it comes to Exxon Mobil, which had sales of $ 265 billion in 2019. It operates worldwide. Here in Canada, it controls Imperial Oil, owner of the Esso brand, which has stakes in three oil sands operations and owns refineries, pipelines and chemical plants.
Unlike some energy companies based in Europe, Exxon has generally viewed renewables as a losing proposition, instead investing money in things like deep water exploration off the coast of Guyana and shale drilling in the south of Guyana. Texas and New Mexico.
But environmentalists also dealt a blow to one of these European oil companies, Royal Dutch Shell, this week. A Dutch court ruled that Shell was “obligated” to reduce carbon dioxide emissions from its operations by 45% by the end of 2030, from 2019 levels. Shell had previously announced a 2050 target to reach zero net emission, but the decision, if upheld, will force it to step up its efforts.
[Read: A Dutch court rules that Shell must step up its climate change efforts.]