Companies are finding lots of oil again

Data: Rystad Energy ECube; Chart: Axios Visuals

The shifting climate battle over Big Oil

In this image, a Shell brand tanker sits in front of a plant on a cloudy day.
Royal Dutch Shell said it's quitting a major lobbying group, American Fuel & Petrochemical Manufacturers. Photo: Jeff J. Mitchell/Getty Images

These are split-screen times for shareholder advocates pushing the world's most powerful oil companies to do more on global warming.

Driving the news: Axios' Amy Harder reported yesterday that the SEC granted ExxonMobil's request to throw out a shareholder resolution urging the oil giant to disclose targets for steeply cutting emissions.