Exxon “Cares”

There arechanges ahead at ExxonMobil . On Monday , the oil giant star announced major shakeups in how it will do clientele run forward — and continued its endeavor to convince the public that it ’s working towards a brighter climate future . The company is relocate office , restructuring , and gasconade a new gaudy but in question “ scummy carbon ” division .

Exxon ’s moving its office from its storied headquarters situate in Irving , Texassince the nineties . The fellowship ’s loss leader will no longer be concentrate on the campus dubbed the “ God Pod , ” so name within the company for the top - down culture of executive involvement and micromanaging . ( Some of the decisions made by “ God Pod ” executivesinclude deceiving the public on the actual price of greenhouse gas emission . ) Exxon ’s leadership will move to a attach office in a suburbia of Houston , while the rest of the employee will relocate elsewhere in the city . Exxon has had a somewhat abysmal retiring couple of years , as acquire debt during the pandemic forced it tochange fiscal path . Saving a small money on rent makes sense .

In tandem , the ship’s company said Monday it would be reorganizing into three freestanding stream — an upstream class for its crude and accelerator pedal production ; a “ Product Solutions ” branch for plastics and other types of fuel ; and , incredibly , “ ExxonMobil Low Carbon Solutions , ” which , according to the caller , has a goal to gift $ 3 billion in “ lower - emission push solutions ” over the next four years .

Photo: Mark Humphrey (AP)

The company ’s low - carbon copy division was spring just last year , so this promotion to a full separate branch is a moderately heavy footfall onward — and comes just a match weeks after Exxon lastly trotted out a plan toget to net zero by 2050 . Exxon took a pretty tough and sustainedpublic whipping last yearwhen it came to mood , with shareholdersvoting to overthrow the ship’s company ’s board in Mayanda imprecate sting exposing how Exxon fake politicians in June . It ’s not a reaching to say this shake-up is definitely an attempt from the company to send a content that it really cares about climate . ( Houston , where much of the company is relocate , is not just a orbicular oil and gas hub , but is also the situation of the society ’s much - touted proposed carbon capture project : a $ 100 billion plan to make an enormous atomic number 6 seizure and storage facility for the huge cluster of oil and gun refinery there . )

Never listen that a lot of the applied science that form the backbone of this new variance are seriously questionable and , in some case , may actually increase emissions . Never heed that the company’snet zero planmay not do anything beyond make them more efficient at bore for oil and gas . Never mind that “ low carbon ” is alargely bullshit termthat does n’t really have in mind anything . Never mind that some of these “ lower - discharge zip solutions ” will becreated to support mental process at the party ’s other two divisions — namely , developing slenderly less polluting technologies that could keep oil flowing and energy pour out into new credit card product . Never mind that the House Oversight Committee has once again called ExxonMobil brass as well as the heads of other oil colour majors back into Congress next week totestify againas part of itsinvestigationinto Big Oil ’s climate misinformation , after Exxon evaded interrogative and raked inpraise from Republicanslast October .

And never heed that therecent spike in rock oil pricesgave the struggling caller a profitable fourth quarter last year , makingshares come up for the first clock time since April 2019 — and show where the company ’s real fiscal powerhouse will continue to lie . For all the lip religious service Exxon might start up paying to “ low - C technologies , ” it ’s important to remember : it ’s still an oil company , through and through .

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