Between climate change and the pandemic, oil companies face an existential challenge. Our research explains how oil companies are responding in different ways, and how their responses will shape the politics of global warming.
Oil companies face huge challenges
But they are responding in different ways
While all oil companies are hurting, there are important differences among them. Our ongoing research examines differences in the business and political behavior of major oil companies. Like BP, almost all now claim they are “going green” and targeting net-zero carbon emissions. But their actual behavior shows that none is really transitioning from fossil fuels, though some are doing better than others. Our analysis of both business practices and political behavior — what companies communicate to shareholders — suggests that Exxon has resisted the green transition more than other oil companies.
Looking at pre-pandemic changes, rather than announced targets, we find that the most