, Columnist
The Day the World Changed for Big Oil
After shareholder and court challenges, Exxon, Shell and Chevron will have to clean up their acts much faster than planned.
The sun’s setting faster for oil after a bruising week.
Source: Bloomberg
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Wednesday was a bad day for Big Oil, or a good one, depending on your point of view. They’re going to have to clean up their acts a lot faster than they were planning.
Three of the world’s biggest publicly traded oil and gas companies — Exxon Mobil Corp., Royal Dutch Shell Plc, and Chevron Corp. — were dealt stinging blows on May 26 by shareholders and a Dutch court demanding that they act more quickly to reduce their greenhouse gas emissions.