"I don't think the stops and starts are the right thing for businesses. It is extremely inefficient. It creates a lot of uncertainty." - Darren Woods, Exxon Mobil CEO.
"Drill, baby, drill" is Trump's mantra, but the constant backtracking on agreed policy makes it difficult for companies with long-term investment horizons.
Woods mentioned that while Exxon would not change its strategy due to Trump's election, adjustments may be necessary if government policy changes materially.
The shift in U.S. climate policies creates a challenging environment for large energy companies, as seen through Exxon's concerns about policy uncertainty.
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