Darren Woods, who discussed the company's plans for decarbonization and various energy initiatives. Raymond James Managing Director and Equity Research Analyst Pavel Molchanov joins the Live Show to provide insights into this outlook.
Molchanov acknowledges that it is"factually true" that fossil fuels will continue to be needed, even as the world aims for net zero emissions by 2050: natural gas will be necessary for chemical production and aviation will require oil, he explains. However, the analyst notes that global oil demand will eventually peak and decline, though the timeline is unclear.
While outlining several ExxonMobil green energy initiatives, Molchanov believes that the"only oil companies today that are truly needle-moving in their sustainable energy investments" are based in Europe. He notes that American oil and gas companies are usually much further behind in this regard.
The "Magnificent Seven" is becoming a bit less magnificent but could rebound if we cut this stock and added another winner. The post 1 Stock I’d Drop From the “Magnificent Seven” and 1 I’d Add appeared first on The Motley Fool Canada. Posthaste: Canadian renters are getting squeezed more than homeowners, putting the property ladder further out of reachMartin Pelletier: There are a few solutions that can let you participate in the market without being fully exposed to a correction
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