In a major signal that even legacy polluters are ahead of the GOP on climate issues, ExxonMobil announced Tuesday it foresees its low carbon and carbon capture enterprises generating hundreds of billions of dollars in revenue and surpassing its traditional oil and gas business within ten years.
Reuters reports company CEO Darren Woods, in a meeting with Wall Street executives, noted that analysts estimate low- and no-carbon fuels and decarbonization will be a multi-trillion dollar business by 2034. By comparison, the worldwide fossil fuel industry currently accounts for $4 trillion of the global economy.