- Exxon Mobil (NYSE:XOM) CEO Darren Woods says he hopes New York's new attorney general “comes to a different conclusion” than predecessor Eric Schneiderman on the climate change investigation underway by New York and other states.
- "Let's see what the election brings," Woods said at today's annual shareholder meeting, adding that he has not reached out to Barbara Underwood, who was appointed to replace Schneiderman and is not running in the November midterms.
- Woods said he is “committed to being part of the solution on climate change," and sees XOM's role as "helping close the gap between what people want and what can be responsibly done."
- The CEO says XOM can more than double its earnings by 2025 and will invest in new oil and gas production, as technology such as biofuels will allow the company to produce energy with lower carbon emissions.
- XOM earned $19.7B in 2017 as rising oil prices reversed a slide in profit, but the stock fell 7% last year and are down so far in 2018; Woods says the stock will rise as earnings improve.
- Now read: The End Of The Iran Nuclear Deal And Your Portfolio
Original article