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How Big Business Is Hedging Against the Apocalypse - The New York Times

Rex Tillerson stood under a 32-foot pipe organ at the Morton H. Meyerson Symphony Center in Dallas, explaining how the world worked. It was May 2015, in the middle of an oil-price crash, and Exxon Mobil’s earnings had fallen 46 percent compared with the same quarter the year before. But Tillerson, then Exxon’s chief executive, told his shareholders to be confident in the future. Oil and gas furnished billions of people, including the very poor, with cheap, reliable fuel — a fact not easily negated by a weak fiscal quarter. “Our view reflects the reality,” Tillerson said, “that abundant energy enables modern life.”