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Inside Exxon’s climate-change strategy

Exxon's optimistic climate plans
Illustration: Rebecca Zisser/Axios

ExxonMobil is betting on two costly technologies — carbon capture and biofuels — and overly optimistic data to drive its climate-change strategy.

Why it matters: As the world’s largest publicly traded oil company, Exxon is the face of America’s fight over climate change and fossil fuels. While other oil majors like Shell and BP are branching out to wind and solar, and investing in electrification technologies, Exxon has made its existing natural gas and liquid fuels business the focus of its climate strategy.