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In a Warming World, Clean Energy Stocks Fall While Oil Prospers

The market is focused on making money now and isn’t heeding urgent warnings about climate change, our columnist says.

Exxon Mobil and Chevron, the two biggest U.S. oil companies, have announced acquisitions that will vastly increase their oil reserves.

Jeff Sommer writes Strategies, a weekly column on markets, finance and the economy.

Nov. 3, 2023, 9:00 a.m. ET

Heat, drought, flood and famine. Evidence of climate change is all around us.

If the planet is to avoid even more severe consequences from global warming, the world’s leading energy agency says, consumption of oil, coal and natural gas needs to be reduced much more rapidly, and clean energy sources like wind and solar power need to expand at a far faster pace.