Exxon Says US Jet Fuel Policy Is Needed to Boost Investment [BNN Bloomberg (Canada)]
Exxon Mobil Corporation (XOM)
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Source: BNN Bloomberg
The White House wants to increase output of so-called sustainable aviation fuel, or SAF, but earlier in March missed a self-imposed deadline on guidelines on how crop-based forms of the fuel would qualify for tax credits. The administration has delayed setting rules as it tries to balance conflicting views from environmentalists and farmers during an election year. “If we can get to a market-driven type policy, where we send a market signal, then you get all the innovation along with that, and you get other people saying, ‘OK, I have a profit incentive,'” said Jack Williams, senior vice president at Exxon and one of three top executives who oversee company operations with Chief Executive Officer Darren Woods. It's the second time this month that senior Exxon executives have called on the Biden administration for more government support for its low carbon initiatives. Woods said the company's marquee Baytown hydrogen project is at risk if it doesn't qualify for the top tax credit
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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
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