ExxonMobil will 'still be producing oil and gas' in 2050: CEO [Yahoo! Finance Canada]
Exxon Mobil Corporation (XOM)
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Source: Yahoo! Finance Canada
Darren Woods told Yahoo Finance's Brian Sozzi and Akiko Fujita in an interview that the energy giant will "still be producing oil and gas depending on how quickly the world transitions" to green technologies "That [oil and gas] may be a smaller part of the portfolio than it is today," he said. Woods envisions using oil and gas as feedstock for materials that will be more efficient and require less emissions to produce. Darren Woods, Chairman and CEO, Exxon Mobil Corporation speaks at the Milken Conference 2024 Global Conference Sessions at The Beverly Hilton in Beverly Hills, California, U.S., May 6, 2024. REUTERS/David Swanson (REUTERS / Reuters) More "The products that we make in 2050 may be very different than the products that we make today," said Woods. He cited for instance a resin material derived from fuel molecules which can be used to replace the reinforcing bars commonly used in construction projects. ADVERTISEMENT "It's lighter, lower emissions and more cost
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