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Exxon Mobil Corp’s Darren Woods says his company is at the center of a delicate balancing act between those who want a cleaner environment and those seeking economic growth that depends on rising energy demand.
Exxon is planning to invest more than $200 billion in major oil and gas projects around the world over seven years. a signal that growth carries a bit more weight in company plans.
“Society has aspirations for economic growth. reliable and affordable energy. and environment protection.“ Woods said at Exxon’s annual general meeting in Dallas on Wednesday. “We see our role as helping close the gap between what people want and what can be responsibly done. This is what I believe sustainability is all about.“
Woods cited investments in environmental projects such as algae biofuels. and in methods to cut emissions in its industrial processes. as helpful steps forward. But his comments at Exxon’s annual general meeting in Dallas on Wednesday set him apart from rivals in Europe. many of whom are investing in renewable energy such as wind. solar and in battery storage.
