#Exxon Mobil Corp

[basicpart]

Exxon Mobil (XOM) Q4 earnings

Exxon Mobil on Friday beat Wall Street’s estimate for fourth-quarter profit as higher oil and gas production offset lower oil prices and weaker refining margins. Its adjusted profit was $7.39 billion or $1.67 per share, beating analyst estimates of $1.56, LSEG data showed. Exxon’s low production costs in the basin and its lucrative and prolific projects in Guyana have bolstered the company’s…

[youthchronical]

Chevron beats earnings expectations, returns more than $7 billion to shareholders

Chevron beat third-quarter earnings and revenue expectations, returning a record amount of cash to shareholders. The company’s shares were up more than 4% in morning trading following the report’s release. The oil major’s quarterly profit, however, declined substantially compared with the year-ago period due to lower margins on refined product sales, lower prices and the absence of favorable tax…

[youthincare]

"...Guyanese environmental lawyer Melinda Janki about how she’s taking on the oil giant ExxonMobil to stop the company from developing an offshore oil field that would turn Guyana into a “carbon bomb.” Guyana is currently a carbon sink, but Exxon plans to produce more than 1 million barrels of oil a day, which could transform the South American country into one of the world’s top oil producers by 2030."

^ This was a year ago.

Guyana has the fastest growing offshore oil development 'in the history of the world,' energy expert says

this was two days ago.

[gop-are-corporate-socialists]

The story includes corporate America, companies like AT&T, USAA, Allstate, Chase, Exxon, and others who, through their PACs, donated millions to the GOP, and through their ad budgets, millions to Fox News. Even today as Fox is being outed as true propaganda machine most knew it was, and as the GOP cranks up their fascist policies, these companies CONTINUE to fund the GOP and Fox News

White wealthy men made sure white wealthy men were never held accoubtable.

It's a separate reality.

Trump is the patriarchy. He is given chance after chance to fail. He is a rapist. He is a Russian money launderer. He is an abuser. He is a wife-cheater. Above all, he is a radicalizing racist.

All these negative constructs protect Trump so all the racists, cheaters, abusers, and rapists can be rewarded for their complicity.

[rjzimmerman]

Excerpt from this story from the LA Times:

Nine years ago, when an aging oil pipeline ruptured near the coast of Santa Barbara County, an inky darkness spread over the waters. The massive slick of oil engulfed and killed hundreds of marine animals, including seals, dolphins and pelicans. And the acrid smell of petroleum polluted the coastline’s air.

On May 19, 2015, a corroded section of an oil pipeline burst and released more than 140,000 gallons of oil near Refugio State Beach. The incident — which revived memories of a massive 3-million-gallon spill almost 50 years earlier — sullied some of the state’s most pristine beaches and a rare stretch of undeveloped coastline. Oil migrated as far away as Orange County, closing fisheries and costing hundreds of millions of dollars to clean up.

Soon after the spill, Exxon Mobil halted operations at its three offshore oil platforms while Plains All American Pipeline idled the connected pipelines. This year, Sable Offshore Corp., a Houston-based energy company, purchased the mothballed equipment and announced plans to restart oil extraction by the end of the year — including the failed pipeline.

Most recently, the California Coastal Commission has repeatedly admonished the company for performing unauthorized work on the pipeline in an attempt to ready the equipment for transporting oil. This week, environmentalists carrying homemade signs and a large banner reading “Fight Offshore Drilling” protested at a commission meeting in San Diego.

The potential restart and accelerated pace of construction have heightened fears of another catastrophic oil spill.

Environmental groups contend that federally mandated corrosion protection was not effective on the 30-year-old pipeline, and say it will never perform safely. Also, when Santa Barbara County considered a plan to build a new pipeline, an environmental report estimated that the existing line could suffer a spill every year, and a major rupture every four years. These releases, it concluded, could result in a disaster even larger than the 2015 spill.

“It’s just old and corroded, so it feels like a ticking time bomb to continue letting this infrastructure operate and to restart it after such a severe spill without additional environmental review,” said Julie Teel Simmonds, senior counsel for the Center for Biological Diversity. “It seems too risky to even contemplate.”

In the nine years since the spill, the damaged pipeline was “evacuated, cleaned and preserved with inert nitrogen to maintain a corrosion-free state,” according to Steve Rusch, Sable’s vice president of environmental and regulatory affairs. He said work crews have already started the process of repairing about 100 “anomalies” — areas of corrosion, cracks or other defects — to ensure that the pipeline will be in an “as-new” condition.

[solarpunkbusiness]

You’ve heard of Exxon Mobil Corp., Chevron Corp., Shell Plc, BP Plc, TotalEnergies Se, ConocoPhillips and Eni SpA?

How about Tongwei Co., GCL Technology Holdings Ltd., Xinte Energy Co., Longi Green Energy Technology Co., Trina Solar Co., JA Solar Technology Co., and Jinko Solar Co.?

If the former names are familiar giants and the latter obscure, you might want to rethink how you look at the companies that provide the world with energy. On a reasonable accounting of things, the latter are just as significant — if not more so — than the powerhouses of petroleum.

That’s a remarkable shift. Around the middle of the 20th century, the predecessors of the major international oil companies attained such power that they were nicknamed the Seven Sisters, a group of energy producers with such global scope and influence that they could make or break governments. It took a wave of nationalizations and the 1973 oil crisis to end that model. A further disruption is now waiting in the wings, thanks to the unstoppable rise of China’s solar power sector.

A solar panel sold by Longi in 2024 will be generating electricity for decades. Most carry 25-year warranties. Oil and gas sold this year, however, will almost all be used up in a matter of months. If you look at the long-term flow of energy into the global economy that’s crystallized with each solar cell produced, it’s many times what’s being provided by Big Oil.

[allthebrazilianpolitics]

Next Climate Summit Will Face the Tug Between Oil and the Amazon

Activists complain that the last three COP hosts were oil-and-gas dependent. South America’s biggest producer hosts the 2025 session.

The traveling COP jamboree is done for another year, ending in the last-ditch deal that’s become traditional at the annual UN climate conference.

While energy was front and center at last year’s summit in Dubai, the talks in Azerbaijan were dominated by the issue of climate finance for the developing world. After a chaotic final day, a promise to provide $300 billion a year to poorer nations, compared with $100 billion today, was enough to keep everyone on board.

But underneath, the issue of fossil fuels — and the world’s failure to move away from them fast enough to meet net zero goals — was everywhere. Many climate stalwarts complained that the last three COP hosts — Egypt, the United Arab Emirates and Azerbaijan — were oil-and-gas dependent economies.

Opening the conference, Azerbaijani President Ilham Aliyev said his country’s trove of oil and gas was a “gift from God.” Saudi Arabia and allies campaigned to soften last year’s commitment to move away from fossil fuels. And Exxon Mobil Corp. Chief Executive Officer Darren Woods attended for a second year.

Having got through Baku with the COP process just about intact, there are high hopes that next year’s edition in Brazil can reinvigorate the process. There are reasons for optimism. Brazil is an increasingly important economy with diplomatic heft, led by a politician famous enough to go by a single name: Lula. And COP’s arrival in the Amazon city of Belem will put the rainforest front and center. But there’s an inconvenient truth. The nation pumps well over 3 million barrels a day, the most in South America, and output is growing. Robust oil revenues helped pay for many of the social reforms that marked President Luiz Inacio Lula da Silva’s first term in office.

Continue reading.

[gop-are-corporate-socialists]

Another day in GOP-land. Any good fascist will tell you, always follow GOP-law. “If the facts do not conform, dispose them and make shit up.” It works ONLY because their lies are enabled by the idiots who vote Republican at ANY level and by corporations like AT&T, ExxonMobil, McDonalds, and others who donate millions to the GOP and spend millions filling Fox’s bank by buying commercial time.

Mark Sumner at Daily Kos: 

Last October, Florida State Surgeon General Dr. Joseph Ladapo issued an extraordinary warning. Based an analysis of Florida residents, Ladapo asserted that being vaccinated for COVID-19 resulted in an “increased risk for cardiac-related mortality” in the month following vaccination. Even more astoundingly, that analysis claimed that mRNA vaccines represented a “substantial” risk for both all-cause and cardiac-related deaths for men between 18 and 39. According to Ladapo , there was an “84% increase in the relative incidence of cardiac-related death” for men in that age group following vaccination with an mRNA vaccine. As a result, the state of Florida officially recommended against men getting vaccinated for COVID-19.

Since that announcement, Florida Gov. Ron DeSantis has repeatedly backed Ladapo’s recommendation. The numbers from that state-controlled Florida “study” have become standard fare for anti-vaccine claims from Fox News to Robert Kennedy Jr.. Kennedy even had Ladapo on his anti-vax podcast to promote a book Ladapo authored in which he scoffed at the “panic and fear” of other public health officials when it comes to COVID-19.

However, right from the start, Ladapo’s colleagues were highly skeptical of both his findings and his recommendation. Now The Tampa Bay Times demonstrates that there were very good reasons for that skepticism. Because to get the numbers he wanted, Ladapo altered the results of the study, leaving out what it really discovered: “The risk associated with COVID-19 infection clearly outweighs any potential risks associated with mRNA vaccination.”

[…]

Not only does the Times version show how Ladapo deliberately altered the conclusion of the report to highlight the false fear he wanted to create, to better highlight the results, Ladapo removed a whole set of data from the study. The data concerning what happened to Floridians who became infected with COVID-19.

The Florida Department of Health under anti-vaxxer extremist “Dr.” Joseph Ladapo altered studies to support his deranged anti-vaxxer conclusions just so he can peddle the false narrative that the COVID-19 vaccine is more dangerous than getting COVID-19.

[climatecalling]

Honolulu has lost more than 5 miles of its famous beaches to sea level rise and storm surges. Sunny-day flooding during high tides makes many city roads impassable. ... The damage has left the city and county spending millions of dollars on repairs and infrastructure to try to adapt to the rising risks. ... Unwilling to have their taxpayers bear the full brunt of these costs, the city and county sued Sunoco LP, Exxon Mobil Corp. and other big oil companies in 2020. Their case – one of more than two dozen involving U.S. cities, counties and states suing the oil industry over climate change – just got a break from the U.S. Supreme Court. That has significantly increased their odds of succeeding. At stake in all of these cases is who pays for the staggering cost of a changing climate. Local and state governments that are suing want to hold the major oil companies responsible for the costs of responding to disasters that scientists are increasingly able to attribute to climate disruption and tie back to the fossil fuel industry. Several of the plaintiffs accuse the companies of lying to the public about their products’ risks in violation of state or local consumer protection laws that prohibit false advertising. ... It is unlikely that even substantial verdicts in these cases will come close to covering the full costs of damage from climate change. ... But for many of the communities most at risk from these disasters, every penny counts. We believe establishing the oil companies’ responsibility may also discourage further investments in fossil fuel production by banks and brokerage houses already nervous about the financial risks of climate disruption.

[youthchronical]

Exxon beats earnings estimates, increases fourth-quarter dividend

Exxon Mobil beat third-quarter earnings expectations, as the oil major reached its highest liquids production level in more than four decades. “This quarter is one of the best third quarters we’ve had in the past decade,” Exxon CEO Darren Woods told CNBC’s “Squawk Box” on Friday. “In the upstream, we see record volumes coming from our advantaged assets like Guyana and the Permian.” Here is what…

[oww666]

straight up harassment by the state who issued the permits in the first place and now are going after deep pockets with sleaze lawyers tactics based on nothing ..bunch of made up graphs and fake science easily disproved

[n0thingiscool]

Reminds me of the old Exxon (I think) ad bragging about melting glaciers...

Global surface temperature change year over year since 1850

by u/columns_ai

[thecoolestessaywriters]

Fossil Fuel Corps Wield an Immense Amount of Political Influence

Fossil fuel corporations wield immense political power thanks to their massive lobbying efforts and the fact that they comprise 8% of the entire US’s Gross Domestic Product (acc. to the American Petroleum Institute).

Between 2000 and 2016 alone, the fossil fuel industry spent roughly $2 billion to disrupt the passing of climate change legislation

Exxonmobil has been the largest contributor of climate change denialism in recent history

Directly funded 69 climate change denial interest groups from 1998 to 2014

Ironically a descendent of enormously wealthy industrialist John D. Rockefeller (founder of Standard Oil which was later renamed to "Exxon Mobil") himself urged the company to stop promoting climate change and acknowledge the problem, to no avail

Joined alongside other fossil fuel giants such as Shell and Texaco to directly fund the deceptively named anti-climate change think tank, the “Global Climate Coalition” in 1989, which had the goal of creating and then disseminating some of the first climate change denialist rhetoric that has contributed to the muddy public discourse we currently see today

In a case of impossibly dramatic irony, Exxonmobil’s own proprietary research teams conducted groundbreaking research, as early as the late 1970s, that predicted, with remarkable accuracy, that carbon dioxide emissions over the coming decades would “lead to a 0.2℃ of global warming per decade with a margin of error of 0.04 degrees”, according to the Harvard Gazette.

This makes the irritating fact that Exxon did not even publicly acknowledge the existence of climate change until 2014 all the more unconscionable

Worse still, the numerous studies they conducted that empirically demonstrated the existence of anthropogenic causes of climate change were only disseminated internally (within the corporation) and publicly hidden behind an overwhelming torrent of skeptical editorial pieces they published in order to sow doubt among the general populace

They made sure that anything they published proving climate change, would be outshined by their climate denialist editorials

Exxon wasn't the only company guilty of this sin of omission either:

As early as the 1980s, Shell disseminated internal (intra-corporate) documents that not only acknowledged the existence of climate change, but knew full well that their own products were responsible for contributing to it

Bottom Line: Companies have the political sway that is usually only reserved for politicians and political organizations. This complicates the matter of adopting eco-friendly corporate policy since it has ostensibly become a conflict of interest.

But the question remains, What Do We Do?

There have been many proposed solutions, but unfortunately very few have yielded success:

The Paris Climate Agreement was an international treaty established in 2016 that established a goal to reduce global GHG emissions by 43% by 2030

Though good on paper, the problem lies in its lack of enforcement capabilities since as we've seen corporations are immense contributors to GHG emissions but due to the nature of the agreement, governments themeselves are solely responsible for enforcing the aggreement on corporations' activities

But in a Capitalist society, and given the fact that in the US alone the fossil fuel sector accounts for 79% of our energy production, government actors have very little incentive to risk pissing these companies off which runs the risk of scaring their business away to foreign markets

What is perhaps the most realistically feasible (in theory) solution to reigning in fossil fuel (and other) corporations is the implementation of a....

Which is basically a tax imposed on some level of a fossil fuel producer (its factories, its shipping network, its suppliers, etc.) on a specified amount of greenhouse gasses produced in the company's activities

Could be a great way to get corporations to limit their emissions by making it less attractive to emit large amounts of GHGs to maximize profits since doing so would incur significant costs to said company

or at least enough costs to make them limit their activities

A study done in 2017 estimated that a tax of $49 per metric ton of CO2 could raise up to $2.2 trillion in revenue which could then be used to fund things such as eco-friendly energy solutions or even just return it to consumers

Now this is not to say this is the "antidote" to corporate GHG emissions, because it simply is not:

For starters imposing such a tax would naturally increase the price of energy and fuel, which could seriously hurt lower income people who already spend a good chunk of their income on those things

Could entice domestic corporations to move overseas where tax laws are more lenient

So, in conclusion:

Solving corporate GHG emissions which contribute to climate change is going to be a really complicated, multifaceted affair that is not going to occur overnight.

However we still should try and pursue these solutions, even if we may not see them in our lifetimes, because it is an objective fact that these companies need to be reigned in and something must be done to curb emissions before we literally reach a point of no return.

We need to build a future that is far less dependent on fossil fuels and it's going to take a lot of work and collective action to do it, so..

DO IT YOU LAZY BUMS, GET ANGY, GET MAD, DON'T LET THESE BOZOS FEEL LIKE IT'S OK TO RUIN THE PLANET!

IT'S THE ONLY ONE WE GOT!!!

[industryforecastnews]

Wax Market Size To Reach USD 14,165.8 Million By 2030

Wax Market Growth & Trends

The global wax market size is expected to reach USD 14,165.8 million by 2030, registering a CAGR of 4.6% according to a new report by Grand View Research, Inc. The growth is majorly driven by growing inclusion of wax as a performance additive in the plastics industry on account of its rising utilization as water and solvent-based mold release agent. Wax has become one of the critically utilized materials globally with widespread application across multiple industries. It is used in the automotive industry for vehicle polishing, hair removal, packaging applications, and as an additive in the food industry.

In addition, it is used in paints and coating industry and printing ink application. Rising demand in various applications, including candles, rubber and plastic processing, cosmetic and toiletries, fire logs, building boards, is likely to propel overall growth in the coming years. High consumption of wax owing to its advantage including UV resistance, anti-caking, excellent insulation, is expected to augment market growth. The stringent COVID-19 lockdown in 2020 induced a downward trend in the market. The recovery in the industrial businesses and activities in the second half of 2020 moderately improved the demand. Additionally, the festive season in the final quarter of 2020 improved the demand from different industries including candles, cosmetics, and packaging.

Request a free sample copy or view report summary: https://www.grandviewresearch.com/industry-analysis/wax-market

Wax Market Report Highlights

The synthetic wax segment accounted for the fastest CAGR of 4.7% over the forecast period, owing to a significant increase in application across lotion, shampoo, foundation, lipstick, and other personal care products

The cosmetics and toiletries application segment accounted for the highest CAGR over the forecast period considering the growing inclusion of product in formulation of creams and moisturizers. In addition, above average living standards and new product innovation are expected to propel the demand

Asia Pacific accounted for the highest CAGR of 4.9% over the forecast period which can be traced to growing construction activities, mainly in economies such as China and India. Moreover, technological developments in Korea and Japan have spurred the growth of adhesives

The market’s value chain comprises raw materials suppliers, product manufacturers, distribution channels, and application industry. Depending upon the type, wax formulation requires timely procurement of key feedstocks which includes lubricating oils, base oils, and bee’s milk. Product prices are highly impacted depending on the availability of these feedstocks

The industry is made up of large and medium-sized players. The small players are either suppliers or distributors. Companies are working on strategies that can harness their internal strategic advantage and position according to the end-use segment growth

Wax Market Segmentation

Grand View Research has segmented the global wax market report based on product, application, and region: 

Wax Product Outlook (Volume, Kiloton; Revenue, USD Million, 2018 - 2030)

Mineral wax

Synthetic Wax

Natural Wax

Wax Application Outlook (Volume, Kiloton; Revenue, USD Million, 2018 - 2030)

Candles

Packaging

Plastics & Rubber

Pharmaceuticals

Cosmetics & Toiletries

Fire Logs

Adhesives

Others

Wax Regional Outlook (Volume, Kiloton; Revenue, USD Million, 2018 - 2030)

North America

Europe

Asia Pacific

Central & South America

Middle East & Africa

List of Key Players of Wax Market

Sinopec Corp

China National Petroleum Corporation

HollyFrontier Corporation

BP P.L.C

Nippon Seiro Co., Ltd

Baker Hughes Company

Exxon Mobil Corporation

Sasol Limited

The International Group, Inc.

Evonik Industries AG

BASF SE

Dow

Honeywell International Inc.

Royal Dutch Shell P.L.C

Mitsui Chemicals, Inc.

Browse Full Report: https://www.grandviewresearch.com/industry-analysis/wax-market

[knick-nudiex]

There are 500 companies on the annual Fortune 500 list, which ranks the largest corporations in the United States by revenue. The list is published by Fortune magazine and is considered one of the most well-known corporate rankings. 

Some notable companies on the list include: 

Wal-Mart Stores, Inc.

Exxon Mobil Corporation

ChevronTexaco Corporation

General Electric Company

Bank of America Corporation

ConocoPhillips

AT&T Corp.

Ford Motor Company

J.P. Morgan Chase & Co.

Hewlett-Packard Company

The Fortune 500 list includes both public and private companies from a variety of sectors, such as technology, retail, healthcare, and finance. Being named a Fortune 500 company is widely considered to be a mark of prestige. 

[leprivatebanker]

Exxon Mobil Corp. sues California attorney general for defamation over plastic recycling claims