Exxon Serves Up Hard Lesson in Climate

ExxonMobil has decided it’s time to play teacher. In its freshly minted Global Outlook, the U.S. supermajor offered a chapter called “Lessons from Europe”—and the grading isn’t pretty. The EU’s climate policies, Exxon argues, are a cautionary tale of what happens when governments push through decarbonization with heavy regulation and magical thinking. The report claims that Europe’s “high-regulation, high-cost” climate crusade has hobbled industry, pushed up energy prices, and weakened public…