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A Tale of Two Oil Giants With Two Strategies That Aren’t Working

  • Exxon spending too high, Chevron growth too low: fund manager
  • With energy under pressure, both posted disappointing earnings
Chevron Corp. Jack/St. Malo Platform As Big Oil Rivals Shale In Gulf
Photographer: Luke Sharrett/Bloomberg
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Everyone from environmentalists to investors is beating up on fossil fuels, and American energy giants Exxon Mobil Corp. and Chevron Corp. are taking increasingly diverging approaches as they try to weather the storm.

The problem is, neither strategy is working right now.