Exxon CEO says making big oil ‘villains’ slows path to net-zero goal

Woods called for governments to “harness the industry’s capabilities for change” by providing taxpayer support for emissions-reducing technologies like carbon capture before market forces can take over. — Bloomberg

SAN FRANCISCO: Exxon Mobil Corp warns that making Big Oil into “villains” and trying to restrict supply of fossil fuels will slow the path to net-zero emissions and keep millions of people in the developing world in poverty.

“The solutions to climate change have been too focused on reducing supply,” chief executive officer (CEO) Darren Woods said in a speech at the Asia-Pacific Economic Cooperation CEO Summit in San Francisco.