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ExxonMobil is at a crossroads as climate crisis spurs clean energy transition

CNBC · Amanda Winograd · last updated

Exxon Mobil is one of the most consequential and profitable companies in U.S. history. For more than a hundred years, the company’s oil and gas have helped power the global economy.

But the Exxon Mobil of today faces the seemingly opposing priorities of supplying the world with abundant energy and also drastically reducing its carbon footprint to help stave off climate disaster. 

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Related Knowledge Center: ENERGY BASICS: petroleum

State of Play

While electric-powered vehicles may be the ride of the future, oil remains at least for now the dominant fuel for transportation around the world. And after a period of time at the end of the 20th century when oil was subject to wide fluctuations in price, new supplies in North America as a result of non-conventional recovery techniques have helped stabilize prices.

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