Exxon Mobil CEO Darren Woods calls for a higher price on carbon:
The CEO of Exxon Mobil would like the government to increase the carbon price to encourage ...
cnbc.com/2022/06/24/exxon-mobil-ceo-darren-woods-wants-higher-price-on-carbon-emissions.html
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Exxon Mobil CEO Darren Woods seeks higher carbon priceThe 45Q tax credit currently provides up to $50 per ton captured and stored; Woods prefers at least $100.
- Woods wants government incentives for company-developed innovations including biofuels and direct air capture of atmospheric CO₂.
- The company estimates the carbon capture and storage market could be worth $4 trillion by 2050.
- He acknowledged a higher carbon price could be politically difficult, and suggested sector-focused policies as a possible starting point.
- Asked about profitability, Woods said carbon capture could become a significant revenue driver in 25 years.
What is Exxon Mobil for? Well, we're for a carbon tax.— Keith McCoy, former Exxon lobbyist; quoted in CNBC coverage about carbon tax discussions
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American businessman, energy executive, and the chief executive officer (CEO) and chairman of ExxonMobil
chemical element with symbol C and atomic number 6; common element of all known life
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