19世纪末，包括托马斯•爱迪生(Thomas Edison)在内的一些发明家发明了电灯，几乎终结了人类对当时最主要的石油产品——煤油的需求。埃克森美孚公司(Exxon Mobil)的前辈、石油大亨约翰•D.洛克菲勒(John D. Rockefeller)并不在意，仍然趁价格下跌收购竞争对手。
At the end of the 19th century, inventors, including Thomas Edison, invented the electric light, which almost ended the demand for kerosene, the most important oil product of the time. Oil tycoon John D. Rockefeller, an Exxon Mobil predecessor, didn't care, and still took advantage of the price drop to buy rivals.
"When the market bottoms out, we must not lose courage as some people do," said the founder of Standard Oil, who directed his senior management team in 1884. "If we do not buy it, it is undoubtedly a mistake.
More than 130 years later, while renewable energy continues to grow and electric vehicles threaten the future of gasoline-powered vehicles, ExxonMobil, the Standard Oil Company's main successor, has largely maintained its original practice of increasing oil production.
Darren Woods used the kerosene story as an example to illustrate the company's long-standing adjustments and changes at its second annual ExxonMobil meeting in late May 2018. He said, "the needs of society continue to develop, and so do we." He identifies Exxon as part of what he calls a solution to the risk of climate change. But Woods said in an interview that the company's investments would follow Rockefeller's rule of "betting on what you know".
At the moment, in part because of uncertainty about the future of the energy market, most oil giants are restricting spending, and Exxon is on the contrary, intending to increase spending every year between now and 2025. It plans to invest more than $200 billion in traditional oil and gas projects around the world, including Brazil and Papua New Guinea. ExxonMobil is not going to go into wind, solar or battery storage like its global rivals such as Royal Dutch Shell, Total and BP...