"pandora’s Box Has Opened”: Oil Hedge Funds Target Price Shocks After Engine No. 1’s Exxonmobil Triumph
“Pandora’s box has opened”: Oil hedge funds target price shocks after Engine No. 1’s ExxonMobil triumph Submitted By Hugh Leask | 03/06/2021 - 5:10pm The recent spate of victories by sustainability-focused shareholder activists against oil giants could spark renewed price volatility, heralding outsized opportunities for hedge funds betting on energy markets. Engine No. 1, a hitherto little-known US activist hedge fund, recently hit the headlines after it managed to secure three members on the board of ExxonMobil as part of its push for clean energy reforms at the US oil giant.
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