it's one of the ways exxonmobil is advancing kindly. felicia, you would think if you just watched their ads, that all they do is carbon capture. but in fact, they invest less than one per of their capital in anything other than fossil fuels, oil companies have become very good at recognizing ways to phrase what they want you to hear, which is that they're acting on climate, was continuing to produce oil and gas one across the p, we changing a great example of this that i've seen pop up more and more is the phrase low carbon. we creating new and improved low carbon products. the phrase low carbon doesn't mean anything though. i mean, it's very easy to be lower carbon than a barrel of oil or a pile of coal. over the last few years, we've exhaustively studied the climate communications by excell mobile. what we found was systematic discrepancies between on the one hand, what exxon next to mobile scientists said in academic circles and behind closed doors, versus on the other. what the company told the general public on the open page of the new york times and elsewhere. we found that they p

now for the six-year particular, exxonmobile is say saying it will increase spending that's what the plan supports the corporate strategy of continued cost savings and investment in low cost of supply or lower emission products exxon now expects to double earnings and cash flow by 2027 versus 2019. the company announced it's on track to meet the greenhouse gas reduction plans by the end of this year four years ahead of schedule exxonmobile plans capital investments in the range of 20 to $25 billion a year through 2027 that's important and the market will be listening for. as we saw, oil prices climb, the question was would more spend on capex? they say clearly they will have what they called disciplined capital investments of 20 to $25 billion a year exxonmobile saying our strategy is designed to create shareholder value and remain flexible to future policy changes and technology advances associated with this transition. when we return, dr. scott gottlieb on the omicron variant and its spread that interview in just a few minutes >>> as we he ed to break, though, a look at fax leaders

> four people were injured following an explosion and large fire that broke out overnight in an exxonmobilinery outside houston. authorities described it as a major industrial accident but were able to bring the fire under control by morning. the four injured are stable. the cause of the fire is not yet known. >>> take a look at this. a tsa agent at newark liberty interairport sprung into action to save a choking 2-month-old baby. cecilia morales, who is a trained emt says it is the first time she had performed the heimlich maneuver on an infant. no doubt she gave the family the best christmas gift imaginable. what a hero. >>> prince harry and meghan markle showed the first photo of lilia luciano on their christmas card. the second child of the duke and duchess of sussex. the first child archie was born in 2019. those are two cute kids. wow. in their message, they express support for organizations that support refugees, including afghan refugees a >>> the holidays are a time for giving, and who better to be on the receiving end than a military family. cbs' janet shamlian reports. >> report

a fire at a exxonmobil refinery in texas.investigate the impact on energy prices and prices at the pump going into 2022. next on "the evening edit". not my uncle, though. he's taking trulicity for his type 2 diabetes and now, he's really on his game. once-weekly trulicity lowers your a1c by helping your body release the insulin it's already making. most people reached an a1c under 7%. plus, trulicity can lower your risk of cardiovascular events. it can also help you lose up to ten pounds. trulicity is for type 2 diabetes. it isn't for people with type 1 diabetes. it's not approved for use in children. don't take trulicity if you're allergic to it, you or your family have medullary thyroid cancer, or have multiple endocrine neoplasia syndrome type 2. stop trulicity and call your doctor right away if you have an allergic reaction, a lump or swelling in your neck, severe stomach pain, changes in vision, or diabetic retinopathy. serious side effects may include pancreatitis. taking trulicity with sulfonylurea or insulin raises lo

. >> ahead on "power lunch," energy's evolution exxonmobil forecasting it will double earnings by 2027, while reducing emissions what does the future of the industry actually look like? we will discuss th nt.atex ♪♪ ♪♪ small businesses like yours make gift-giving possible. now, comcast business has an exclusive gift for you. introducing the gift of savings sale. for a limited time, ask how to get a great deal for your business. and get up to a $500 prepaid card with select bundles when you switch to the network that can deliver gig speeds to the most businesses. or get started with internet and voice for $64.99 per month with a 2-year price guarantee. give your business the gift of savings today. comcast business. powering possibilities. >>> welcome back to "power lunch. we are about 85 minutes left in trading day. we want to get you caught up on all of the market action there has been a lot of it today. for stocks, bonds, and commodities plus the energy evolution, what it means for oil and oil and gas stocks let's begin with bob pisani on the markets. midday slide now a little bit of

>>> breaking overnight, texas authorities are responding to a major industrial accident at the exxonmobiluston. look at that. sheriff's office received reports of an explosion inside. four are injured, three of whom have been rushed to the hospital. authorities are urging people to avoid the area. exxonmobil is working to resolve the issue as soon as possible. >>> a colorado district attorney is asking the court to reconsider a former truck driver's 110-year prison sentence. the governor's office is reviewing the sentence as well. he was driving his truck at 85 miles per hour when he says the brakes failed. that led to a 28-car pileup on i-70 near denver that left four people dead. he was found guilty in october of vehicular homicide and two dozen other charges. the judge said he was bound by the state's mandatory minimum sentencing laws. his family and supporters rallied at the state capitol on wednesday. . >> our system here at this building has created a situation where a judge, at their own discretion who doesn't want to issue a sentence, has had to issue that sentence. what we hope t

. >>> what's being called a major industrial accident at the exxonmobil plant in baytown. some kind of explosion. the fire visible for miles. early reports say four people may be injured. no word on the extent of the injuries. >>> it is time now for a look at your thursday weather. >>> good morning. some busy travel days coming up as we head toward christmas weekend. if you're in the west, we'll have to drive very carefully. there could be some airport delays as well with rain, snow and wind from san francisco all the way to denver. and that's the big story here. the travel trouble spots in the west and in the north and northeast as we head into thursday and friday. but looking ahead to the christmas weekend, we'll see that big storm in the west and early this weekend there will be a swath of rain and snow from the midwest to the northeast. i'm accuweather meteorologist kevin coskren. >>> coming up, the time capsule everyone was waiting to open and what they found inside. >>> also ahead, undercover with the kkk. what a man working for the fbi posing as a hit man exposed in

: four people were injured following an explosion and large fire that broke out overnight at an exxonmobilede houston. authorities described it as a major industrial accident but were able to bring the fire under control by morning. the four injured are stable. the cause of the fire, though, is not yet known. take a look at this, a t.s.a. agent at newark liberty international airport sprung into action to save a choking two-month-old baby. you see her there crawling over. officer cecelia morales, who is a trained e.m.t., says it was the first time she had performed the heimlich maneuver on an infant. no doubt she gave the family the best christmas gift imaginable there. what a hero. prince harry and wife meghan markle shared the first photo of daughter lilibet diana in their family's 2021 christmas card. the six-month-old is the second child of the duke and duchess of sussex. their first child, archie, was born in 2019. those are two cute kids. wow. in their message they expressed support for organizations that help families, including afghan refugees and americans in need of paid family le

performers in the past month jp morgan betting they can be leaders once again in 2022, calling exxonmobil analysts saying favorable commodity prices, baelts, favorable return plans should drive growth joining us our trading nation team nancy, what do you think of the big oil names? is it time >> i think it has been time. and there are ways to play it going toured to be sure, tyler we are overweight the group which isn't hard because it is small wading in the s&p 500. we have been playing the upstream names lining faang. i think if you own faanng it is too soon to sell but i don't think you chase it here. we also recently added to phillips, which is part of the jp morgan upgrade. i think that makes sense for a lot of reasons the company is going through cost restructuring they seem to be turning the corner on some of the execution problems they had. and we think that the oil boone is going to continue even though omicron has impacted, you know, the headlines, every get a new f the virus it is less impact on mobility we have global daily flights 80% of march 2020 and disciplined opec and ma

manager says everyone else has been accounted for the blaze started around 1 o'clock this morning at exxonmobil facility just 25 miles east of houston and the baytown area. you can see here on your screen. a massive fire plumes of smoke. people are tweeting that they heard and felt a loud boom know describing it as an explosion before the blaze. local law enforcement calling it a major industrial accident. the company says the chemical plant was built in the 1920's and is located along a 3400 acre long. houston ship channel and point about 7,000 people. the cause of the fire is still not known. exxon officials say they are monitoring the air quality in the area. no problems as of now. no home evacuations or shelter in place is needed at this time. i'm kasey kahne stein newsnation. back to you. >> coming up on kron 4 news at 8 o'clock while we deal as rain lake tahoe area blanketed by snow. what you have to prepare for. if you're heading that way. another woman comes forward accusing actor chris noth of assault. what she claims happened with the actor back in 2000, 2 and why she's speaking out n

. >>> still ahead, the late night explosion at exxonmobil refinery sending several people to the hospitalthe incredible rescue from the aftermath of a tornado outbreak in kentucky. >>> high def doppler, you see it is lit up. heavy rain pushing across the bay area. i will let you know when we will see things taper but we'll talk about chance for isolated thunderstorms. that seven-day forecast is coming up. >>> the market just opened. let's take a quick check. dow is up about 225 points. bradley blackburn has a closer look at the numbers after the break. the classic hollywood story. we meet the hero, the all-new nissan frontier hero faces seemingly impossible challenge. tension builds... the plot twist the hero prevails in hollywood, this would be the end. but our here, we are just getting started. introducing the all-new nissan frontier. say hello to 2022 with xfinity and you'll get fast and reliable internet but our here, we are just getting started. for only nineteen ninety-nine a month for twelve months. plus, you can get twelve times the speed for the same price when you add xfinity mo

well, expensive oil and gas this year leading to another successful quarter for exxonmobiling which saysourth consecutive quarterly profit. shares are higher by just under 1% as energy, it's the best performing sector of the year. it is up 47.5%. and shares of amd are in the spotlight today after advanced micro devices said it will delay its takeover until the first quarter of the new year as both chip companies work through regulatory hurdles and both stocks are lower by 1.5 of 1%. and for the second month in a row, apple has remained the top smartphone seller in china, edging out china-based vivo. that according to counterpoint research. apple's success largely driven by the popularity of the new iphone 13. shares of apple are down 48 cents, 177.72. so, yes, with half an hour left to the trading year, apple did not become a $3 trillion company. but, hey, it sure can in the new year. >>> well, the flight-mare continues, get it? as the airline industry faces historic cancellations this week due to rising cases of covid and bad winter weatherer. and now new year's eve, well, it's going to

at least four people were injured in the blast at the exxonmobil plant in baytown. so far, local authorities have not ordered residents to shelter-in-place or evacuate. the justice department said louisiana-based taylor energy has agreed to pay $43 million in damages and turn over a $432 million clean-up trust fund for an oil leak in the gulf of mexico that has been spilling since 2004. the leak started after hurricane ivan caused a 40-story oil-drilling platform to collapse. taylor energy also agreed to drop three legal challenges to government clean-up orders over the longest-running spill in u.s. history, though it will not have to admit liability as part of the settlement. a federal judge still has to approve the deal. new york city has divested $3 billion of retirement funds from fossil fuels. more city pension funds will be divested from big polluters in the coming months. outgoing new york city comptroller scott stringer said -- "today is a major victory for our planet, our children, and our pensioners. this is proof-positive that environmental and fiscal res

>> for me i'm going to look into the oil sector and exxonmobil.n't like it, but it reminds me of a tobacco stock. i have a high dividend and a product that people still need to use so xlf >> interesting correlation there. >> guy, you've got the last word >> i find the kirkland brand works very well for me frank, you can shop anywhere you want because you look good in anything, my man tall and handsome. >> vicious, vicious, well done by you and i'll throw disney your way because the worst is over dis into the come back more often. guys, you were great thank you. thank you all for watching "fast money. cnbc special your money 2022 starts right now >>> tonight sectors on deck. we take you around the horn to the market's biggest trends. first up the financials how will the fed's ongoing dance around inflation impact your money? then tangible returns? we go back to the basics with the best of the companies that make actual things the industrials. plus, home is where the health is the chief of a major home builder explains how her company hopes to reinv

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minor symptoms and is oos lating officials are investigating a fire that injured four people at an exxonmobilefinery in texas. an explosion was likely the cause of the fire. back to you. >> thanks a lot. nicola up 16% on news that it delivered its tractor trailer truck to a company that operates out of the port of l.a. that delivery actually happened left week, but the stock moving after nicola that company signed a letter of intonight purchase 100 total other ev stocks on the news, lordstown both of them up over 4% rivian fractionally higher and still down after a somewhat disappointing earnings on monday web bush says spending on commercial ev tops 1.2 trillion with very intense competition on the vehicles themselves, batteries and charging infrastructure john, you own calls in fiskar and tesla. you also bought some nikola calls today. yeah we were trading them last week, frank. the stock was $9.75. they were buying the this week, today, 11 calls. those calls they were paying a dime for them last week, frank they exploded today and then they began rolling up to the january 13 calls so i lik

we're watching the aftermath of the exxonmobil plant accident near houston this morning.caught fire, injuring are four employees this portion of the plant produces gasoline. the white house is telling fox business it is watching the situation. depending what happens there, that could have a impact on the price of gasoline across the u.s. charles? charles: madison, thank you very much, appreciate it. now folks, you know, i championed the new investor revolution before the media knew it was happening. charles schwab calls the newbie in the market are generation investors. 28% are short-term trading. down 44% last year, rather. obviously a lot of folks have gotten shaken out of this strategy. now there is big money to be made for active traders. it takes special qualities. i always say more than just special tools that matter. joining me the daily dirt nap editor. darren, your service name is the coolest ever. daily dirt nap, i'm so jealous. got to tell the audience a little bit about your background as a trader. >> i started off trading on the floor of the options exchange

the day that is waning a little bit right now is the energy sector oil prices behind that as well exxonmobilp about 24%. some news about some of their carbon emissions ambitions in the coming years and what not playing in the headlines today chevron is up a percent. valero energy up 34.5% apa up 1% we will see if it picks up in the afternoon session. john, over to you. >> thank you >>> fed chair powell and fed chair secretary yellen are wrapping up their second day of testimony on capitol hill. steve liesman joins me with the latest steve. >> hey, john yeah, fed chair powell in his day two of testimony maintain his high level of concern over inflation and reiterated the fed will discuss a faster taper timeline at its upcoming meeting in about two weeks he said there's no reason it should be disruptive to markets. >> you can see that the highly accommodative policy that we have, even after the taper is done, there's really -- it is really appropriate that we -- that we taper. as i mentioned yesterday - >> i agree >> -- in my view it is appropriate we consider at the next meeting tapering fast

is really a gets me about energy and some of these companies, the oil companies aren't doing oil exxonmobil go green so buying into exxonmobil, is not what it was, 10 years ago, you are buying into a different business aren't you? >> o absolutely, and i think, you know you said something very important all the pressure so what happened is, that what a bubbles do and i truly believe we are in a bubble on one side of that see-saw, it is inefficient use of capital we over cal parts of economy other starts starved. >> a lot of people talk capital discipline fraedz being used very, very good, and, that is i partly because you talk about partly because burned 15-16 when they overbuilt you what is happening now very conservative companies as oil price goes up not building, an amazing thing to see energy sector from our perspective, this is the chaecht energy sector fwlookz free-cash flow basis the cheapest energy seconder looked in 21 years last time thinking about performance. >> we will be watching thank you so much richard for joining us this year, happy new year to you happy holidays. >> thank

the last time the dow reshuffled the membership it cost did dow because it kicked out pfizer and exxonmobilwo of the three stocks and raytheon and replaced by amgen honeywell and cost a lot with amgen in there instead of pfizer. >> dow underperformed for a decade or so there's a piece on cnbc on the stocks that wall street is bullish on in the dow. nike, consensus there. salesforce goldman sachs in there maybe 2022 is the year for the dow. time now for a cnbc news update with rahel solomon. >> here's what's happening at this hour. actress betty white has died at 99 she had a tv career that won eight emmys. starred in three hits. she was also a regular on many tv game shows including pooshd, match game and $25,000 pyramid president biden commented on her lasting popularity. >> it's a shame. she was a lovely lady. always wonderful. >> always loved betty white. we are so sad about her death. >> 99 years old. my mother would say god love her. incredible. >>> iran said the space launch failed to put the payloads into orbit. >>> and another new year's celebration for you. hong kong ringing in 202

just a little while ago today, david, i had a chance to ask exxonmobil ceo darren woods about the priceamericans are paying at the pump and when he expects that to improve. he says they are expecting more volatility in this market moving forward in the short term but he sees pricing conditions improving for americans next year. watch. >> as we move into the back half of this year or the back end of this year and then move into 2022, that you will see better balances, more supply, equal to demand and, that in turn will help with pricing and i think take some of the pressure that some families we're seeing in the u.s. are feeling. >> now as for omicron's impact on the oil and gas market, mr. woods characterizing initial reaction as extreme. he says, as we learn more about this variant and rely on vaccinations he is confident that oil and gas will be able to navigate this omicron variant moving forward, but to really understand the hurdles this new variant presents, need not look forward, look beyond the congress where we are right now, while it is still expected to draw several thousand p

a massive fire breaking out in an exxonmobil refinery in baytown, texas.ple were injured. a thorough investigation will be conducted. >>> also, congresswoman mary gay scanlon was carjacked at gun point in philadelphia in broad daylight. the pennsylvania democrat was walking to her car in fdr park when two armed men demanded her keys and took off with her acura, her phone and government cell phone. they were all taken. her purse and i.d. were inside. thankfully she was not injured. >>> here's the story of a holiday hero. the 11-year-old boy who saved not one, but two people on the same day. first the sixth grader from oklahoma jumped into action when one of his classmates was choking and performed the heimlich maneuver and while he was on a walk later that day, he saved an elderly woman from a house fire. >> wow. >> he was honored by both his school and the sheriff's office. a brave and quick thinking young man. no surprise here. the young hero wants to be an emt. >> aww, i love that. >> that's amazing. >> what are the odds of that? >> bravo. that is really

residents in baytown called an explosion that rattled homes early this morning officials at the exxonmobilo say they are investigating the cause of the fire four people were taken to the hospital. all of them are in stable condition this morning >>> now a terrifying for a pennsylvania congresswoman carjacked at gunpoint. police say a pair of armed men approached her at a park in philadelphia yesterday afternoon and demanded her keys she handed them over along with her government cell phone and i.d. one of the thieves drove off in her suv while the other followed in another vehicle scanlon fortunately was not hurt overnight police say her car was found at a shopping center in delaware and five people inside were arrested. >>> president biden already looking ahead to 2024. the commander in chief saying he will run for re-election so long as he's in good health biden made those comments in a new interview saying, quote, i'm a respecter of fate. when asked if he would be up for a rematch against donald trump, biden said that would only make him more likely to run for a second term. >>> meanwhi

better-than-expected earnings raising growth expectations for next fiscal year year exxon look at exxonmobilsion as oil prices claim above 4% ahead of opec meeting today rest of the market higher futures rebounding as the omicron inflation weighed on investors day dow industrials up 295 yesterday jay powell testified before senate banking committee laid groundwork for a quicker end to the bond-buying stimulus program here is what he said. >> at this point the economy is very strong inflationary pressures are hire it is therefor appropriate in my view, to consider wrapping up the taper of our asset purchasinguring when we actually announced, at november meeting. perhaps a few months sooner. maria: powell said time to retire the term transitory. when describing disinflation to testify in frontal of the house this morning, and we will likely hear a similar commentary joining me right now cross chief market strategist victoria fernandez, nancy tengler k.t. mcfar landed great to see you we want to talk about inflation store, and what you heard yesterday, from the chairman of the federal reserve.