Exxon Turns Up The Heat - Pushes White House For Gas-Hydrogen Subsidy Approval: Report
Portfolio Pulse from Nabaparna Bhattacharya
Exxon Mobil is lobbying the Biden administration to allow hydrogen made from natural gas to qualify for subsidies under the new climate legislation. The company believes it can produce hydrogen without significant carbon dioxide emissions, making it as environmentally friendly as hydrogen from water and green energy. Exxon's lobbying efforts include key decision makers in Washington, including Secretary of Energy Jennifer Granholm and White House Climate Advisor Ali Zaidi.
September 20, 2023 | 1:41 pm
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Exxon Mobil's lobbying efforts for hydrogen subsidies could potentially lead to increased revenues if successful. However, the company's reputation may be at risk due to recent lawsuits over fossil fuel-related climate change damages.
Exxon Mobil's lobbying efforts could potentially lead to increased revenues if they are successful in getting hydrogen made from natural gas to qualify for subsidies. This would provide a new revenue stream for the company. However, the company's reputation may be at risk due to recent lawsuits accusing it of concealing the dangers of fossil fuels for decades, which could potentially impact investor sentiment.
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