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Oil giants slow down their energy transition talk

From axios.com

Oil giants for years have said that they'll pave the path toward energy transition, investing in everything from renewable projects to climate tech startups. • Now, some of them are sounding more like speed bumps. Driving the news: BP plans to "dial back" some of the company's renewable energy initiatives, due to disappointment over return on investment, per the WSJ. • Dutch rival Shell said it will keep renewable energy investments at 2022 levels, despite blockbuster profits. • Exxon CEO Darren Woods argued that energy transition "is not a game for startups," despite the energy industry's significant ... (full story)

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  • Category: Fundamental Analysis