Anyone who buys into the pipe dream that Exxon is somehow committed to invest in low-carbon “solutions”, isn’t looking at the numbers.
The boost in cash flow will allow Exxon to increase the pace of a $10 billion share buyback previously announced as taking place over two years. Now, the company expects the buybacks to be faster than that 12-24 month pace.
In other words, the “massive investment” in LCS (depending on who talks, up to 15 billion over a decade) is lower than what they expect to throw at boosting the share price.