Trump is a friend of Big Oil, but energy firms had some of their worst years ever during the Trump presidency.
Valero's (VLO) premium refining operations are resilient, even when the business operating environment is carbon-constrained.
CalPERS, the biggest public pension plan in the U.S., is considering voting against ExxonMobil CEO Darren Woods' re-election to the board amid shareholder discontent over a lawsuit it filed against two climate-focused investors, the Financial Times reported on Friday. Investors led by U.S. activist investment firm Arjuna Capital and shareholder activist group Follow This earlier this year asked Exxon and other oil companies to adopt tighter climate targets and to set targets to reduce emissions produced by users of its products.