Why Exxon and Chevron are doubling down on fossil fuel energy with big acquisitions
Posted on AllSides October 25th, 2023
From The Center
On Monday, Chevron announced plans to acquire oil and gas company Hess for $53 billion in stock.
Less than two weeks prior, Exxon Mobil announced it is acquiring oil company Pioneer Natural Resources for $59.5 billion in stock.
On Tuesday, the International Energy Agency released its annual world energy outlook report that projects global demand for coal, oil and natural gas will hit an all-time high by 2030, a prediction the IEA’s executive director Fatih Birol had telegraphed in September.
“The transition to clean energy is happening worldwide and it’s unstoppable. It’s not a question of ‘if,’ it’s just a matter...
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