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Lowering emissions, not nixing fossil fuels
An overriding theme that has emerged is that Big Oil wants to focus not so much on curtailing oil and gas production but rather on mitigating the impact of its carbon and greenhouse gas emissions.
Big Oil chief executives from
Exxon Mobil,
Occidental Petroleum, (NYSE:OXY) and
ConocoPhillips (NYSE:COP) have all spoken about the industry s transition to a lower carbon world, with OXY even branding itself a carbon management company that wants to set the industry standard for the production of net-zero carbon oil.
According to Exxon Mobil CEO Darren Woods and Occidental Petroleum CEO Vicky Hollub, reducing carbon emissions from fossil fuels and not the actual use of fossil fuels offers the best way to combat climate change