Have you noticed that most of the world still has power and industries keep producing with someone’s energy?
The only thing that’s really down is jet fuel consumption.
And that’s enough to bring Exxon to it’s knees.
So we aren’t in the business of providing “energy” to the world or even raising the standards of living of those energy poor around the world.
No - our business model is two fold:
Fracking for plastics
High combustion liquids
Which one of those stays untouched for the next decade as the world changes and electrifies with low carbon sources?
If only some of those ~$240 billion dollars that went to share buybacks and dividends over the past decade would have been invested in diversification, we might even be thriving and not about to chop an arm and a leg.
Our “leaders” are such “winners”.