During CERAWeek 2024, Yahoo Finance's Julie Hyman interviewed ExxonMobil (XOM) CEO Darren Woods, who discussed the company's plans for decarbonization and various energy initiatives. Raymond James Managing Director and Equity Research Analyst Pavel Molchanov joins the Live Show to provide insights into this outlook. Molchanov acknowledges that it is "factually true" that fossil fuels will continue to be needed, even as the world aims for net zero emissions by 2050: natural gas will be necessary for chemical production and aviation will require oil, he explains. However, the analyst notes that global oil demand will eventually peak and decline, though the timeline is unclear.  While outlining several ExxonMobil green energy initiatives, Molchanov believes that the "only oil companies today that are truly needle-moving in their sustainable energy investments" are based in Europe. He notes that American oil and gas companies are usually much further behind in this regard. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Angel Smith

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