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Exxon Is Big Oil’s Outlier In The Post-Pandemic World

While oil majors stuck to spending discipline after the 2015-2016 price crash, ExxonMobil was the one to stand out from the crowd as it increased capital expenditures to boost production.   This year, in the second price collapse in four years, Exxon again appears to be the outlier in Big Oil as it is not writing down billions of U.S. dollars of asset values and continues to resist calls from sustainability-conscious investors to disclose price forecasts and account for climate change in the value of its assets and its future business.…