Exxon Debates Abandoning Some of Its Biggest Oil and Gas Projects

Yahoo Finance ^ | Oct. 20, 2021 10:23 am ET | By Christopher M. Matthews and Emily Glazer

[cuban leaf]

Well, I’d rather pump 100 barrels at $400 a barrel then 400 barrels at $100 a barrel.

[Army Air Corps]

Engine No. 1, the hedge fund that led a campaign that replaced three Exxon board members earlier this year,...

Ah, a good ol' hedge fund leading the charge to screw the company.

[Hojczyk]

So shareholders put greenies on the board...it is an oil company it is supposed to make money in the oil business???

You can read the whole article by going to the link on Yahoo..WSJ article

[Starboard]

Yahoo promoting the activist agenda, as usual.

[ActresponsiblyinVA]

Maybe they should bring projects back to the US assuming one day we will wake up.

[ProtectOurFreedom]

...screw the company

Nope. Screw you, me, the USA and the entire world with ultra-high prices and low supply.

[albie]

“assuming one day we will wake up.”

...we’re plenty “woke”. Not near awake.

[Governor Dinwiddie]

#3: "Ah, a good ol' hedge fund leading the charge to screw the company."

Bingo. That is the truth. Hedge funds — evil, stateless, globalists who couldn't give a damn about the USA.

[hinckley buzzard]

Exxon will make money in the oil business until it makes better sense economically to make money in renewables. If it pays to go green, Exxon will go green. It’s that simple.

[The Pack Knight]

Exxon has had one of the safest dividends out there. We’ll see how long that lasts now.

[PGR88]

I found this elsewhere

Engine No. 1, a hedge fund just six months old, manages around $250 million in assets. It owns a meager 0.02% of ExxonMobil, the oil and gas giant that’s worth $250 billion.

Yet the hedge fund, instigating an activist campaign to turn ExxonMobil away from fossil fuels, managed to get two of its nominees elected to the ExxonMobil’s board on May 26—much against the company’s wishes. A third shareholder was declared elected a week later, after final votes were counted.

Looking back, it can almost seem as if Engine No. 1 was set up expressly to effect these changes in ExxonMobil’s board. Ever since it was founded in December, Engine No. 1 has been calling on ExxonMobil’s shareholders to “Reenergize Exxon”—the name of its campaign, complete with slick web site

This "hedge fund" has all the hallmarks of an insider, oligarch, leftist social-engineering political action group.

Amazing how they were able to take control of Exxon, isn't it?

[Vaduz]

Soros winks

[Army Air Corps]

Amazing how they were able to take control of Exxon, isn't it?

That is an understatement.

[SaxxonWoods]

Yeah, it’s such a good dividend payer ($3.48 a share). I hate to sell it.

Will have to keep a closer eye on it now since Greens ruin everything they touch.

[Army Air Corps]

I am sure that it would be interesting to see who are the principals in the hedge fund.

[COBOL2Java]

Screw you, me, the USA and the entire world with ultra-high prices and low supply.

[NautiNurse]

Rumors swirling that XOM will approve a healthy dividend increase beginning December. Aims to adjust for lack of dividend increases since 2019. We can hope...

[Mouton]

Same here. The stock has been relatively moribund of late, I guess due to the concerns about the new a hole board members. Had a nice run from about 34 to its current level but it has missed a good deal of the last months soaring prices. They may bump the dividend though soon given their minting dollars right now.

[ProtectOurFreedom]

“concerns about the new a hole board members”

That and just possibly because Joe Biden says “we are going to destroy the fossil fuel industry”?