Decarbonization business could outgrow oil Exxon executive

The largest U.S. oil producer on Tuesday lays out to investors the aims of its emerging energy transition strategy in a meeting with Wall Street. Exxon foresees a future less prone to commodity price swings through predictable, long-term contracts with customers striving to reduce their own carbon footprint. “This business is going to look quite a bit different than the base business of Exxon Mobil,” vowed Ammann, president of Exxon’s two-year-old Low Carbon Business Solutions unit. “It is going to have a much more stable, or less cyclical, profile.” How quickly that vision becomes a reality will depend on regulatory…