Banning US oil exports would be a 'gift to OPEC and Putin,' Big Oil CEO says [CNN]
Exxon Mobil Corporation (XOM)
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Source: CNN
Banning US oil exports would be a 'gift to OPEC and Putin,' Big Oil CEO says For weeks, Democrats have been calling for Biden to go even further than releasing strategic oil reserves by banning US oil companies from shipping oil overseas. Despite pressure from lawmakers in his party, Biden has so far refrained from taking the more extreme step of banning oil exports. A spokesperson from the White House declined to comment. But American Petroleum Institute CEO Mike Sommers told CNN that the powerful oil-and-gas trade group is "absolutely" taking the risk of an export ban seriously, including by leaning on moderate Democrats to talk White House officials out of the idea. "We're marshalling all of our forces. We're doing everything we can," Sommers said during an interview in his Washington office. Sommers warned that not only would an export ban backfire on US drivers by jacking up prices at the pump, it would help foreign producers by boosting their revenue and market share. "It would
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XOM
News
- Exxon is working on tech to remove CO2 from atmosphere but a breakthrough is needed to slash costs [MSNBC.com]MSNBC.com
- Why ExxonMobil Stock Dropped on Earnings Friday [Yahoo! Finance]Yahoo! Finance
- Exxon Mobil and Chevron Report Lower Earnings [The New York Times]The New York Times
- Crude awakening: oil price rallies against backdrop of energy company earnings this week [BNN Bloomberg (Canada)]BNN Bloomberg
- Exxon and gas markets tell different stories [Reuters]Reuters
XOM
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- 4/26/24 - Miss
XOM
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- 4/26/24 - Form 8-K
- 4/22/24 - Form PX14A6G
- 4/18/24 - Form PX14A6G
- XOM's page on the SEC website