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▶ 31:15 · Energy Policy · IRA's technology-neutral incentives outperform Europe's prescriptive mandates
episode briefing
In Good Company with Nicolai Tangen

Darren Woods - CEO of ExxonMobil | Podcast | In Good Company | Norges Bank Investment Management

2023-11-26 · 2 company · 6 thematic
sentiment
2 bull0 bear0 neu
speakers
nicolai tangen

Nicolai Tangen is the CEO of Norges Bank Investment Management, which manages the Norwegian Sovereign Wealth Fund, one of the world's largest sovereign wealth funds. He hosts the podcast 'In Good Company' where he interviews leaders across various fields.

darren woods

Darren Woods has spent over 30 years at ExxonMobil, joining in 1992 after an MBA. He became CEO in 2017 and Chair in 2018. He emphasizes long-term investment cycles, molecular management capabilities, and a values-driven culture (integrity, care, courage, resilience, excellence).

now playing · Energy Policy
Carbon Capture & Storagetailwindscore 9/10darren woods
Exxon sees CCS as critical but costs must fall for dilute sources
Carbon capture is essential per IPCC and IEA; Exxon has captured more anthropogenic CO2 than any company, but technology needs to become economic for dilute emission sources, requiring poli…
Hydrogen Economytailwindscore 8/10darren woods
Blue hydrogen favored in US Gulf Coast, green in Europe based on resource endowments
Hydrogen deployment should be color-agnostic, optimizing for lowest cost per ton of CO2 reduced: blue hydrogen leverages cheap methane and storage in the US, while green hydrogen suits Euro…
Nuclear Energytailwindscore 7/10darren woods
Nuclear power deemed critical for net-zero but fusion remains distant
Nuclear fission is a critical part of the solution set for decarbonization, while fusion's recent lab breakthroughs face long commercialization timelines, necessitating focus on near-term s…
Carbon Accounting & Reportingriskscore 8/10darren woods
Scope 3 targets create perverse incentives; intensity metrics preferred
Mandating scope 3 reductions on integrated producers discourages LNG that displaces coal and penalizes scale over efficiency; lifecycle carbon intensity metrics better align corporate accou…
Energy Policymixedscore 8/10darren woods
IRA's technology-neutral incentives outperform Europe's prescriptive mandates
The US Inflation Reduction Act's carbon intensity standards let markets choose lowest-cost abatement, whereas Europe's supply-side penalties and technology picking risk deindustrialization…
AI Applicationstailwindscore 7/10darren woods
AI to automate low-value work and accelerate innovation cycles in energy
Exxon is aligning IT with R&D to deploy AI across operations, aiming to 'highgrade' workforce tasks, shorten innovation and implementation cycles, and tackle harder problems faster, startin…