CEO Rex Tillerson gives stay-the-course outlook as profits decline due to lower prices for crude oil, saying renewable energy is not yet economical
ExxonMobil shareholders overwhelmingly rejected several environmental resolutions including proposals to put a climate change expert on the board and set goals for greenhouse gas emissions.
At the oil giant’s annual meeting on Wednesday in Dallas, CEO Rex Tillerson gave a stay-the-course outlook for the company, which has seen profits decline recently with lower prices for crude oil. Tillerson has said that oil prices will remain low over the next two years because of large global supplies and weak economic growth.
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