Exxon poised to overtake Shell and BP on low carbon spending

Contributing sentiments towards policy:

54% : "Exxon is leaning into these areas not because of environmental social governance or sustainability initiatives but rather genuine business opportunities where XOM has a competitive advantage and the ability to scale," said Betty Jiang, analyst at Barclays.
49% : Even so, analysts say there has been a step change in Exxon's strategy since chief executive Darren Woods told analysts in 2020 that he sought to avoid a "beauty competition" with rivals on carbon emissions.
45% : It marks a surprising turn for Exxon, which has drawn much criticism from climate activists for continuing to increase fossil fuel output -- and lobbying against restrictions -- despite knowing they were causing global warming.
45% : Exxon has said investment in some of its low carbon projects, including a multibillion-dollar hydrogen plant at its Baytown refinery in Texas, depends on tax breaks in the Biden administration's Inflation Reduction Act -- the flagship climate law President Donald Trump has vowed to rescind.

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