When the pandemic hit, demand for oil and gas dropped sharply, leading to significant losses that prompted companies to consider renewable energy as a viable alternative.
Darren Woods, Exxon Mobil's CEO, faced intense pressure from investors to pivot to wind and solar but emphasized the company's lack of expertise in those areas.
Exxon invested in hydrogen and lithium extraction, aligning with traditional oil and gas sectors, which led to a remarkable stock price rebound amidst changing investor preferences.
As oil and gas profits soared post-pandemic, Wall Street's interest shifted back to the fossil fuel sector, reflecting a volatile investment landscape.
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