Business
Why big oil is wading into lithium
![Why big oil is wading into lithium Why big oil is wading into lithium](https://i0.wp.com/www.economist.com/content-assets/images/20240629_WBP003.jpg?w=780&resize=780,470&ssl=1)
BP AND SHELL, two British oil giants, have long sunk cash into solar and wind farms. Their rivals elsewhere have mostly stuck to their drilling. Investors have rewarded single-mindedness. ExxonMobil, an American firm unapologetically wedded to the black stuff, is worth $510bn, half as much again as the British duo combined. Its share price is up by 50% in the past five years, compared with a rise of 10% for Shell and a fall of 13% for BP.
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