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Exxon gas station in Chicago (archive photo)
Photo:
John Gress / Getty Images
Can a fly ride an elephant?
Engine No.
1 try anyway.
You hold a stake of just 0.02 percent in the oil giant ExxonMobil.
But that does not prevent the activist fund, which is only a few months old, from making great demands: Engine No.
1 not only wants to send four new directors to the supervisory board in Texas, but also calls for a realignment of the 135-year-old group: Exxon must invest in clean energy, the belligerent shareholders demand: in order to reduce climate emissions - and to keep them clean in the future To distribute profits.
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ExxonMobil CEO Darren Woods
Photo:
Brendan McDermid / REUTERS
In contrast to the European oil multinationals, which are determined to convert to renewable energies, America's giants are sticking to the old business model: Exxon and Chevron are betting that the world's hunger for energy guarantees the demand for their fossil fuels.
"I feel good with where we are today," CEO Darren Woods said as he presented quarterly results this week.
Woods is the dual chief executive officer and chairman.
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