i'm carl quintanilla with jim cramer david faber is in houston with exxon ceo darren woods exclusive. we'll hear from hi in a few minutes. futures are group. oil is back to 68. >>> as you say, carl, there's a lots of volatility in oil prices just this week we'll also talk about any released a couple hours ago or so from the company, in which it codified many of the targets that it shared during the last quarterly earnings report, namely cap ex spending, how much money, $15 billion that it's going to be spending on the various initiatives under greenhouse emissions reduction projects, so plenty of things to talk about, and hopefully get into some specifics there, as shares perhaps rebound a bit maybe some of that due to the board signed off on plan that we have this morning, but as well, jim, also a relief rally in what has been -- well, you can see what's happened over the last week as well prices have moved quite sharply, haven't they >> yes, chevron is up a similar amount, mire charitable trust bought some. i talked about it -- and but, david, i think what i need you to give me is t

. >>> as crude does rebound towed, exxonmobil's darren woods spoke with derek faber on what the energyion might look like for the biggest oil company in the country. >> we have the optionality and the flexibility to shift from the traditional investments and where we are leveraging that's skills to the alternative investments. we can pace that as the world transitions and as we work with governments f. that accelerates faster we can shift those resources faster if it slows down, we can keep those resources -- >> joining me now for more on what's next for exxon and the energy sector overall, sam margolin you have an outperform on he cannon and a $7 price target the fact exxon's darns woods said they are looking to double earnings and cash flow over the next six years while bringing down emissions -- your takeaway? >> if you want to connect the dots between those two things you have to level set and say the world wants to get to zero emission bias 2050 before that happens we have to hit peak emissions above 2030. we haven't even peaked yet so the initial phase this emissions reduction gl

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

i'm carl quintanilla with jim cramer david faber is in houston with exxon ceo darren woods exclusive.