How ExxonMobil Is Banking On Biofuels
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- Опубліковано 7 сер 2022
- ExxonMobil, one of the most powerful players in the energy industry, is at a crossroads. For more than a century, the company made billions selling and refining oil and gas and was seen as financially and politically untouchable. But today, with mounting concerns around climate change, the company is coming under pressure from both outside and within to transform its business and figure out a place in a lower carbon future. Watch the video to learn about how ExxonMobil started out as a company making kerosene, why some blame it for a climate change misinformation campaign, and where the company says it will generate future profits as the world transitions away from oil and gas.
The full documentary, "ExxonMobil at the Crossroads," is streaming now on Peacock and CNBC.com.
Chapters:
00;30;05 History of ExxonMobil
03;31;23 Misinformation campaign?
06;05;08 Shareholder rebellion
09;40;06 Low carbon projects
13;48;27 Biofuels
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How ExxonMobil Is Banking On Biofuels
Biofuel is to ExxonMobil like recycling bottles is to Coca-Cola
Nope, biofuel is like instead of digging up the old trees and fauna that have been processed by natural means into a soup to burn, why not just take the trees out of the ground and make the soup ourselves?
CO2 capture is more like recycling ♻️ bottles and cans, though, only if they use the currently available tech to turn those captured carbons into fuel again... 💡
Biofuel is not viable without subsidies. It is a fake cure. Maybe that was your point. :D
Never heard anything more accurate
ExxonMobil is like charging your cellphone so you can troll online as Coca-cola is to... eh... it's probably relevant somehow.
Lol🤣
ExxonMobil is the type of company that would make a solar powered oil refinery.
Why not if it’s in a place with good solar resources? We are going to be using petroleum (and natural gas) for much longer than anyone reading this will be alive. Even if transportation demand drops to zero, which it won’t, there is petroleum in virtually every manufactured good and there are in most cases no substitutes (aside from natural gas).
And I salute that.
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We 1000% need to be finding more renewable energy sources Yet at the same time I still do not believe people understand or realize how much stuff uses petroleum product like everything we touch throughout the day uses petroleum in some way or another
Man looks whole world is full of fool's
90% of a barrel of petroleum can be used for plastics that are mostly toxic. Without the subsidy that comes from gasoline and kerosene, those materials will become more expensive. Biofuels are nonsense. They, like hydrogen, are just ways for these terrible companies to survive a while longer.
its not just bad for the environment but also bad for our health. especially for people like me who have pre-existing condition. I had brain caner and a load of other issues at a young age.
thank you Tesla
Anything made from petroleum oil can be made from ethanol and other alcohol fuels.
We have an option: It's called nuclear power, but we refuse to use it. it's clean and safe and no one in the western world has even died from nuclear radiation. No one. Ever. But everyone hates it because they're sheep.
How much do you think exxon paid for this spot?
A couple of million dollars in ads for the soft blow
You must not have watched this video. The world evolved from oil/gas and continues to run on it. No way around it any time soon. Your 'God given' right to Troll ExxonMobil is given to you by.... ExxonMobil. I'll never understand you Trolls. If you had your wish and shut this company down you literally wouldn't be able to charge your cellphone long enough to talk sht.
So accurate, specially at the very end of the report.
When gas prices are high as they were a month ago, everyone is advocating for renewable energy. Once the gas prices drop, most people forget about renewable and keep on going like it never happened or it will never happen.
What about continue developing renewable energy while also decreasing our thirst for fossil fuels? What is gas stations also became charging stations while also using solar energy and other renewable energy to power cars and power the gas stations themselves. And yes, I know it’s not enough power generated but I mean as a supplement , not a replacement.
Just throwing a few ideas.
You make it sound easy but there's still an energy supply problem. To keep up with demand you would need alot of surface area of sunlight to supply enough energy for the demand because there's a finite supply of energy from the sun in a given surface area.
All of it futile. Go learn about our future on my channel Luis.
Gas stations won't become charging systems. Its not economical to do so, most places aren't 3 phase set ups for the chargers. Superchargers are pushing 800V now, its just not practical to do so.
I totally agree and they could make money doing so! Transformers can ramp up power to charge the latest electric vehicles... if they tried. They've been talking about biofuels since '08 or even before! 😄
Also, renewable energy means whatever is best for the area it's put in naysayers. 🙄
We can tax high polluters to pay for renewable alternatives. I suggest this bc we barely fun renewable and we barely tax. This is easy without big oil lobbying
Carbon capture for hydrocarbon industry is what recycling was for plastics industry. A ruse to calm the people down...
"ExxonMobil-- the cause, and solution to, all of life's problems"
- ExxonMobil (apparently)
was just gonna play this in the back while working but it deserves a full watch.
While electrification is the solution for most, there will always be a small, yet valued place in our society for liquid-fueled internal combustion. Good move IMO
You're using your brain. Thinking and reasoning will only get you into trouble... 🤣
a lot of company PR talk there to just looks good or green. rather than reducing their production, they just want to "keep current production or increase more" with "CCS" or "carbon credit". basically greenwashing. does Biofuel really carbon neutral? it depends on what their definition of it. Does they reduce carbon emission? depends on their definition of it. read the fine print
ExxonMobil reminds me of how Kodak thought about digital pictures compared to their film business. Sure they could tell it was the future, but they still got left in the dust.
Sounds cute two different animals
No wood chips! No more wood. No more logging. No more deforestation.
If steam is just hot water why don't we just go back to using steam power?
This is probably the funniest comment I’ve seen… truly great work
It's an existential issue. The company can only exist while demand exists for their product. Demand is being legislated away by many nations, so they are required to adjust their business model or to run down the business. The choice is whether you adapt and invest in developing new tech, or don't invest, accept your limited company life and maximise returns on your existing investment.
Interesting. They certainly have the resources to be the leader in biofuel industry
for real
A big "Thank you!" to Exxon and Chevron for not cutting my dividends a few years back!
Wow... This is huge.
ExxonMobil seems to be standing between the rock and the hard place when you think from the perspective of meeting global needs for their products, and also Saving out planet from the effect of carbon emissions.
A lot of thinking has to go into this work.
Can't even spell "our"
The thing that always confuses me is how to get a Biologically originating Kerosene alternative. While we can swap most Car, Train, Boat, and tractor with organic or electric: Methane/trash bioreactors, Alcohol/Ethanol, and Biodiesel, No economically effective Kerosene alternative exists for Jet airplanes that I know of. FYI Airplanes use at least 2 different types of standard Kerosene to my knowledge and only the Warm Weather version even has an expensive alternative.
@@viewer-of-content no more electric, it is useless when somebody hacks them, when a black out hits, and the repair cost is too expensive. The hybrid energy works better than full electric energy.
@@maroon9273 I can hack most gas cars, so I don't get that part of the argument, but I do agree that biofuels and hybrid fuel systems are probably essential in eliminating greenhouse gas net positive emissions. Even harder than EV cars and trucks is EV Cargo Freighters. Nothing On the market besides nuclear gets even close to the power to weight ratio of combustion fuels, hence rockets, and airplanes use combustion; and Aircraft carriers and submarines use nuclear. Rocket's can use methane made from trash or hydrogen made from water. Jet engines use Kerosene and that's the only thing I Haven't seen good solutions for yet.
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yes, it is a great idea to convert food to fuel while there is a food crisis.
I really hope these guys develop a biofuel and reduce emissions without going full electric.
From what I've heard some car companies have shown they can create much cleaner, if not completely clean, ice vehicles, but the gov't would say 'nope, it has to be electric.' So ultimately it's the elites controlling things, and they want to push this electric car thing down our throats. Incidentally they will have total control when everyone has electric cars, they can flip the electric grid off whenever they want.
@@MaximusXXX77there planning having a major blackout. Also, there banning has stoves and appliance in NYC, California. Which spread the entire USA to achieve there blackout event.
This news segment conveniently skipped over the fact that standard oil of new jersey and SOCONY both relocated to DALLAS to create ExxonMobil. If you take down big oil, you take down Texas. Chevron is headquartered in Houston with Marathon which are also formerly known as Standard Oil.
what car do you like 🚗
The day I bought shorts on Exxon it shot up 4 dollars in 1 day. When I sold those puts for a loss today it went back down 4 dollars after I sold. I think that's enough evidence for me to say this is deliberate.
If you take a very closely you can see tugboats alongside the stricken supertanker are owned and operated by Crowley Services formally (Crowley Maritime Services) who also hauled all of the pipeline sections on related equipment used to build the trans alaska pipeline in the 1970s.
Exxon is the reason it got to this point in the first place lol.
Oh so both world wars were supposed to be fought with battery operated tanks, planes, battleships, and automobiles
Maybe because Exxon you are able to comment here on the internet
There is a small village in Devon England on the River EX named EXON. I know its spelt with one x N not two , but the sound is the same.
I think XOM shift to a zero carbon emission vision is a great strategy. XOM definitely has the potential to dominate the green energy space. They have the cash!
comparing how these executives express and define themselves vs how Tesla expresses & describes themselves. Confusing & conveluted vs genuine, concise & clear.
Another CNBC PR piece. Which producer got paid by an Exxon lobbyist?
Meanwhile OPEC, Russia, China see emissions as the more the merrier.
Plants such as trees and anything that grows from the ground already serves as a “carbon plant.” They give us oxygen in return. The process has been around since creation.
My review of biofuels indicates they have a far reaching effect but not necessarily perfect for every type of heavy vehicle. But it is cleaner & innovative.
what car do you like 🚗
The sad part is they influence politics and regulations needed to make any progress in climate change.
What we need is to create a true fusion reactor. To do what the Sun does should be the goal.
keith mccoy and exxon mobile... may we never forget
They didn't mention Edwin Drake or Titusville, Pennsylvania but showed the picture! Part of the history of my hometown
WOW, this is huge!!!
It's not private company business to care about society as a whole, it has strictly defined authority to care only about it's clients. Federal scientists should do a job about revealing climate change, and legislators to implement the policies.
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I read that CCS produces more C02 than it captures. Thoughts?
"I read that CCS produces more CO2 than it captures. Thoughts?" - Possibly true if you include the large infrastructure costs, but even ignoring that as a technology it has failed every target set. For a sad/funny take on this look up Juice Media CCS. Direct Air Capture has some promise.
Without oil and gas the world would never reach this far hyproicy. And he drives a car that use gas and diesel
Vatsenov would be pleased with this title !
Oil is used for everything, why are they only going after oil companies. If they want to be less dependent on oil then stop supporting things that are made using oil. Like shoes, plastics, clothing, etc. The oil companies just pull it out of the ground.
was literally thinking about buying stock today, good timing for this video
Look at the traffic where i5 & i10 meet & consider the scale of this carbon problem. It will take a titanic size eco disaster to change our eco course. I’ve parked my pickup, ride a ebike and bought xom.
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I like the Carbon Capture plan. The problem isn't oil really but the transitioning of oil to bio.
If ExxonMobil is 'banking on biofuels' as much as this vid suggests, that can mean only one thing... we are running out of oil. They are certainly not going to do this out of the goodness in their hearts, or because it's the right thing to do. The next thing we will have to worry about is them turning our food into fuel.
There's still plenty oil left, unfortunately we know what it does now. We need to be very concerned. To raise crops to burn in engines is not the solution as it is far from efficient. Problem is we only look at CO2, and forget about destruction of habitats whilst there is hunger in large parts of the world. It's the only thing they could sell, but hopefully we won't fall for it. To add ethanol in petrol to make it "better for the planet" is bad enough.
we need oil more than the food. tbh
Corn is already used to make ethanol. Ethanol gives you a lot more power about 25 percent but less mpg.
You're worried about the climate while the Country is at risk of losing its leading role status in the world.
Thank you for inflation on everything due to your hate of gasoline manufacturers
We are not running out of oil. The problem is that ICE vehicles are both inefficient and polluting. Biofuels are only horribly inefficient. Exxon is pushing for huge subsidies that we will all pay for.
@@DrJohnnyJ capitalism eh..
What ever happened to Joseph Hazelwood? He still working for the company?
My vision for ExxonMobil would be for it to be a much smaller company producing sustainable jet fuel from bio processes or waste to energy systems. The company leadership won't create this transformation. The market will do that as vehicle electrification moves forward.
I wouldn’t bet the farm on mass market vehicle electrification. First of all, neither the electrical generation capacity nor (for the most part) the charging infrastructure is in place - for instance, I live in a condo, so where am I going to charge my Tesla? I’d literally have to drive 40 minutes and then wait another hour at least for it to charge at the closest supercharger, whereas it takes two minutes at the convenience store around the corner to fill up.
More importantly though is the supply constraints. Electric vehicles require at least an order of magnitude and in some cases two orders of magnitude more relatively scarce inputs like copper, nickel, cobalt and lithium than a traditional ICE vehicle does. Those are now in even shorter supply due to the Russian invasion of Ukraine.
@@JohnnyAmerique I believe that better battery designs will come forward to meet these challenges. Of course, the holy grail is the hydrogen fuel cell. Right now, Japan is the only country committed to rolling out the hydrogen infrastructure needed to make fuel cell cars a reallity.
@@JohnnyAmerique Well it won’t be quick but Exxon faces major headwinds long term if it chooses to just focus on oil and gas. The big oil reserves are all overseas and mostly controlled by national governments. Exxon chose to exit its play in Iraq. Here in the US the production costs are so high for oil out of the Permian and Bakken that it needs very high prices to be competitive. So Exxon ramps up and down but doesn’t invest much. So it generates cash short term but long term things look fuzzy. If they choose to plow into sustainable fuels in a serious way they company will be a major company in thirty years. If not others will fill the space and Exxon will be a little company that used to be big, sort of like GE.
and in 20 years youll be saying the massive mining of lithium and copper is destroying the climate too.
do you have any idea how much fresh water lithium mining takes? look it up.
www.tcc.fl.edu/media/divisions/academic-affairs/academic-enrichment/urc/poster-abstracts/Xanders_Madison_Poster_URS.pdf
@@dlewis8405 All the sustainable energy is just a supplement to the oil and gas.
Why shouldn't they be required to store CO2 as dry-ice? It would be a more compact form of their pollution. Or if they can't, pay for the tree-planting required to store it as fuel/matter through biofuels?
They should use bio-coal, bio-gasoline, bio-oil, algae, waste to fuel/energy, purple/pink, gold and white hydrogen instead of using wood.
Wait a minute! It's Exxon mobile? My phone always thought it was eggs on mobile. I guess my smartphone wasn't quite as smart as Samsung thought it was
Thank you for watching our ad, ExxonMobil
Interesting
No one can be honest about anything in US without inviting endless litigation. This is a litigious society.
No mention of Ida Tarbell.
People be like: “Hey oil company don’t you know your pollute”
Oil company: “yeah…do you still want that gas for your car?”
Norway is funny.
They have an electric grid that in 93.5% hydro and 6% wind...so plenty of 24 hr surplus power for a 5million population.
Norway is the 13th largest oil and gas producer in the world. They export most of it. They want their citizens to use EVs so they'll have more to sell to the EU and NATO countries the next few decades.
They just pledged they'd up fossil drilling production by 24% this year to sell more to fuel cars and heaters in Europe.
Obviously they are ecologists. Greta must be very proud.
We would have had electric cars a 100 years ago if not for Standard Oil.
net zeo in terms of its operations.
but it's still going to be pumping a lot of oil.
The answer is no oil for burning period.
biofuel happens at 13:40
Key is "almost" always.
Its 100% greenwashing, no oil company will ever sacrifice profits for the environment because they are managed by people who only care about money. Development of biofuels is just a PR marketing campaign with the sole purpose of improving brand image, nothing more.
I want to know why this company charges more [.10 per gallon] for debit card? you would think they would offer a discount for it!
If not by inventing different sources of energy themselves, surely a company as big as ExxonMobil can become a different company via acquisitions. Look at how Netflix used to be mail order company, and now instead is involved in producing movies and tv shows.
What about carbon leaks from carbon capture
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Thanks for dropping this information, I just sent him a detailed message on telegram
I feel CCU makes far more sense than CCS? One already does the work and invests in machines, labour, etc to collect the CO2 why just store it somewhere when we know for a fact that we are just going to mine or drill for fossil fuel somewhere? turning captured CO2 into jet fuel makes far more sense...
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"but why does it matter?" said in such a way... wow even I could be a reporter with the standards these days. 5:10
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What if there's relation between India's largest oil refinery Jamnagar oil refinery and Ro Khanna? Reliance oil refinery which is among largest exporter of refined products to EU and major competitor of western refineries.
USA have reduced its CO2 emissions and now at 2005 level. Hope US administration will push for more nuclear power plants and US emissions will even decreased to level of 90's emissions.
Remember Ro Khanna was key member behind US house approval of CAATSA waiver for India's purchase of Russian S-400. Interestingly in same month July 2022 Indian crude oil imports from Russia peaked.
Who knows Khanna is Trojan horse?
This is where we do a 1 vs 1, right?
Spend 5 billion a year on renewables now for the next 120 years
Why don't we add native very tall shade trees in parking lots sides of roads hiways freeways.
Use thirsty cement to reduce flooding and increase groundwater levels its normal cement but missing sand so it lets water run right through it.
Collect methane from water water treatment plants and the pipes going through the city full of poop and use that methane for energy or make a smaller methane engine to put in cars to end another energy source to move a car and reduce are demands on oil.
Thoghts.
Their work is “projects and they’re engaged with governments around the world” what kind of non answer is that
Plants are the best way to collect carbon dioxide.
Carboncapture - Trees an plants or in the Oceans Phytoplankton
cnbc, tell exxonmobil to make fuel from plastic waste
Where do you think plastic comes from?? Lmao can’t make this up
And trash waste too.
Environmental Defense Fund monitoring activity a good.
The greatest destroyer on the planet.
The government blaming business for governments failures
The question is, why are they still banking on biofuel.
I wonder if shoving all the co2 underground will destabilize the ground and create earthquakes, like what happens with fracking.
Good point, it's all nonsense according to many scientists...this whole green new deal garbage. We in the West have to do it, but China and India are allowed to go full speed ahead with coal plants and not meeting these pollution goals and getting super rich. This is ultimately about control and impoverishing the lower classes, returning us to a state of feudalism. The elites have targeted us in the West because we have our individual rights and liberties.
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Nuclear !
Bio energy, Hydrogen and waste to energy.
Wait a minute!!! carbon capture technique kind of looks suspiciously similar to the idea of clean coal? Orange man bad.
Wood chips. Carbon neutral. Ah huh.
8:22
#pivot
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Your home can be your charger
Don't forget to plug in your Dildoe
Millions is hardly anything compared to the billions they make and spend
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14.25 there making oil 😂 wood is a co2 storer
Algae I hope
Biocoal, bio-gas, bio-oil, white and gold hydrogen.
Holler.
They'll get net zero from carbon credits no doubt, which are totally worthless.
If Exxon had vision and leadership they would get into the nuclear energy business and out of the fossil fuel business. Nuclear is the safest, cleanest, most energy dense source of power, and the only one that takes full responsibility for the waste it produces. Exxon needs to pivot massively, not lie and nibble at the edges while killing the planet's ability to support mankind.
you do realize we live in the US where nuclear power is neither a priority nor looked at favorably? Do you even bother to look into this topic historically or did you just wanna pull something out of your ass? Nuclear power for any oil company is a non starter. there is little desire either on the public or government or private sector for this
Demand… Also NIMBY for nuclear, but yes very energy dense obviously.
Nukes use a lot of water to cool themselves (which is a big problem on it's own) and usually there is cost overruns and completion delays. They are good for base load but not peaker supply. What's needed for the grid is storage and durability.
@@gregripp Nuclear is the largest source of clean power in the United States. It generates roughly 800 billion kilowatt hours of electricity each year and produces more than half of the nation’s emissions-free electricity. This avoids more than 470 million metric tons of carbon each year, which is the equivalent of removing 100 million cars off of the road. If I was in charge the U.S. would be building hundreds of new nuclear plants today, of various sizes and technologies, and advancing the technology and U.S. energy supply.
Irradiation, mini and small reactors is the safest form of nuclear energy. We don't need big nuclear reactors anymore in the states.
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