Exxon is drilling for lithium

[peakbagger]

Big case of trying to greenwash or are they serious about this business/

ExxonMobil is a lithium company now

From oil to lithium.

www.theverge.com

Lots of claims to date about the process to remove lithium from brine but its still not a commercial process.

Obviously, they are awash with profits from fossil drilling and have a lot of the extraction and reinjection technology down so it just may be good way to hedge bets.

 

[GrumpyDad]

Big case of trying to greenwash or are they serious about this business/

ExxonMobil is a lithium company now

From oil to lithium.

www.theverge.com

Lots of claims to date about the process to remove lithium from brine but its still not a commercial process.

Obviously, they are awash with profits from fossil drilling and have a lot of the extraction and reinjection technology down so it just may be good way to hedge bets.

Profits are not a bad thing, let's be clear. I hear younger people talking about 'greed', yet they are some of the greediest people I know. I operate daily to make money, to buy things I need and want, and to take care of those I love and those I barely know.

That said, there is true greed and it's mostly with politicians however pretty much every large business is in this rat race to generate as much revenue and profit as possible for the sake of looking good and achieving goals (get to keep your job) and exceeding (fat bonus). That's literally what it all comes down to. It's a machine, that perpetuates a DGAF attitude toward what impact they have on anything else as long as those goals are met. Anyone that says otherwise is delusional. Sure there are smaller companies that do care and try, but again, big business Im talking about here. It's a monster.

As someone that has worked in both large and start up energy sector for a time, I can tell you that there is absolutely no way that Exxon is going to do what is not profitable. Full stop. If being green is profitable, they will do it. If saying one thing and doing the other is both short and long term profitable, they will do it. If destroying the environment while bulldozing a homeless shelter is profitable, they will do it and you will smile as their marketing people coupled with media in their pocket as well as politicians will ALL convince you that bull dozing a homeless shelter will be better than not.

 

[woodgeek]

Big case of trying to greenwash or are they serious about this business/

ExxonMobil is a lithium company now

From oil to lithium.

www.theverge.com

Lots of claims to date about the process to remove lithium from brine but its still not a commercial process.

Obviously, they are awash with profits from fossil drilling and have a lot of the extraction and reinjection technology down so it just may be good way to hedge bets.

Exxon funded my academic research area for decades, and many of my senior colleagues (and my mentor) worked at their Exxon Labs site in NJ at one time or another.

Back in 70s, my mentor was at Exxon Labs and came up with an improved nanoparticle formulation for their synthetic engine oils. His team showed that the internal rate of return on the new product at scale would be over 30% per year. Exxon decided to not develop the technology. His supervisor explained that a 30% IRR was not good enough for Exxon to care, when their core business was sucking money out of holes in the ground.