Why Oil Companies Are Walking Back From Green Energy

By The New York Times | Nov 18, 2024 at 05:04 AM EST

At COP29 summit, oil companies shifted focus to renewables amid pandemic losses. Exxon Mobil resisted wind and solar, investing in hydrogen and lithium. Market favors fossil fuels over renewables. BP and Shell backtrack on emission goals. Investors prioritize short-term profits over climate concerns.

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