ExxonKnews
November 9, 2023
The two biggest U.S. oil companies are poised to become even bigger — and elected officials and advocates are sounding alarm bells about the harm they fear Bigger Oil could inflict on the climate, consumers, and the ability of the government to protect both from a more consolidated and politically powerful fossil fuel industry.
Last month, ExxonMobil and Chevron separately announced two of the biggest oil and gas deals of the century, securing their dominance over the U.S. fossil fuel sector. Exxon’s $60 billion acquisition of Pioneer Natural Resources and Chevron’s $53 billion acquisition of Hess are the latest signs that the companies are committed to expanding their fossil fuel businesses, even as climate scientists warn that the continued use of fossil fuels is unleashing irreversible damage on communities and the planet.
