President Donald Trump expressed a reluctance to include ExxonMobil in Venezuela’s oil ventures, citing dissatisfaction with the company’s response to investment opportunities. Trump had previously met with oil executives to reassure them about direct dealings with the U.S., but ExxonMobil’s CEO, Darren Woods, deemed the current commercial framework in Venezuela “uninvestable.” Furthermore, Trump signed an executive order safeguarding Venezuelan oil revenue from judicial proceedings to promote economic stability. The administration prioritizes U.S. oil companies’ investment in Venezuela to rebuild the country’s infrastructure.
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So, the situation appears to be that Trump is saying he’s going to keep Exxon out of Venezuela’s oil industry. But, and this is a pretty big “but,” Exxon seems to be the one who doesn’t *want* in. It’s almost like a child throwing a tantrum, declaring they’re not inviting someone to a party the person wasn’t even planning on attending.
The crux of the matter seems to be Exxon’s assessment that the whole Venezuelan oil situation isn’t a good investment. They’ve essentially said, “It’s uninvestable,” which, coming from a major oil company, is pretty telling. It looks like they’re seeing a bunch of red flags: the low quality of the oil, the logistical nightmares of getting it out, and the sheer cost of modernizing the infrastructure.… Continue reading
Newly revealed documents show ExxonMobil funded right-wing think tanks, such as the Atlas Network, to spread climate change denial throughout Latin America, hindering support for UN climate treaties. This initiative involved translating denialist materials, sponsoring speaking engagements for American climate skeptics, and facilitating connections with local media and politicians. The goal, according to internal communications, was to influence developing nations and foster skepticism about the urgency of climate action. Despite efforts to remain anonymous, the documents, including checks, underscore Exxon’s strategy to undermine global climate efforts through strategic financial investments.
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Despite short-term political fluctuations, the urgency of addressing global emissions remains, and any delay only exacerbates the challenge. I strongly advise against implementing carbon border tariffs, as they introduce unnecessary complexity and bureaucracy without guaranteeing effectiveness. A more efficient approach lies in a regulatory framework based on carbon intensity, allowing for a clearer and more manageable path towards emissions reduction.
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Exxon beats estimates, ends 2023 with a $36 billion profit. When I heard this news, I couldn’t help but have mixed feelings. On one hand, I was impressed by the sheer magnitude of their success. To generate such a massive profit is no small feat. It’s a true underdog story, showcasing what a company can achieve with determination and savvy business practices.
However, as I delved deeper into the topic, I couldn’t ignore the concerns that many have raised. The comments I read about laying off workers and hiding profits in tax havens left a sour taste in my mouth. It’s disheartening to think that a company can celebrate such success while simultaneously leaving employees jobless and evading their fair share of taxes.… Continue reading
John Q. Hosedrinker 
Matt Underwood