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-0.000757639531947162 -0.000757639531947162 0.000420910851081717 -0.000336728680865445 0.000673457361730771 -0.00277801161713948 -0.000757639531947162 -8.41821702163912E-05
Stock impact report

How A Former Enron Exec Lured ExxonMobil To Bet $150 Million On A Longshot Biofuel [Forbes]

Exxon Mobil Corporation (XOM) 
Last exxon mobil corporation earnings: 5/1 07:34 am Check Earnings Report
US:NYSE Investor Relations: ir.exxonmobil.com
Company Research Source: Forbes
Now Exxon is suing. It was May 2020, and despite the encroaching wave of Covid-19 pandemic lockdowns, Richard Palmer, founder and chairman of Global Clean Energy Holdings was thrilled with his new acquisition. Palmer's prize was a rusting, 90-year-old refinery in Bakersfield, California that GCEH was buying for $40 million cash. The seller, Israeli energy conglomerate Delek Holdings, had bought the 500-acre pile of pipes, tanks and distillation towers a decade earlier from the bankruptcy estate of the Flying J truckstop company. Dissuaded by tough California carbon regulations, Delek had hardly touched it. So what did Palmer and GCEH, a publicly traded microcap company, have in mind? To help lead the low-carbon revolution, he says. Ever since he left Enron two decades earlier, Palmer had been striving to build a biofuels business — one vertically integrated and optimized "from seed to fuel." Despite missteps, here he was closing on a big piece of the puzzle, a refinery. His visio Show less Read more
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