exxon in november 12th, 1982, management of environmental affairs program sent a memo to exxon management on the c02 release is the most likely source of inadvertent climate modification and the prevailing opinion attribute co2 to fossil fuel come combustion. did you disclose that to your shareholders? something that would be relevant to your assets? >> my understanding of those reports was publicly available information -- >> i didn't ask that. did you disclose that to your shareholders in your report? that's my question. >> my understanding is it was a summarized -- >> seriously. i'm not asking what it is. i'm asking whether that information was disclosed in your shareholder report? >> i'm not familiar with the report at that time. >> in february 22, 1989, a report was presented to the board of directors. he stated, quote, data confirm that greenhouse gases are increasing in the atmosphere and fossil fuels contribute most of the co2. to your knowledge, did exxon disclose that to its share how olders? >> we made all of our research publicly available. >> did you disclose it to shareholde

one of those sites belongs to exxon, correct? a simple yes or no will do. >> i'm not familiar with that report but we do have a facility in the u.s., yes. >> in wyoming? >> yes. >> 12 of those sites, including the one exxon owns, the captured carbon is used for what is called enhanced oil recovery, pressurizing co2. is that correct? >> yes. >> in fact, 95% of the carbon being captured at these u.s. sites is used for extracting more oil. to be clear exxon and others are using captured co2 to extract more oil and calling this a climate mitigation strategy. when exxon promotes climate capture as a solution, does this include carbon capture use? >> you are confusing the technology with its uses. capture is a proven technology to concentrate co2. the question is what you do with that concentration, we can store it. our houston hub is to capture that co2 and store it offshore. it would not be used for enhanced oil recovery. so there's a difference between the technology and what you use the technology for -- >> mr. woods, i do have oth

we'd like to ask exxon mobil. wyatt funded climate skeptics and an add some statements as cost bouts on climate science. but exxon did not answer these questions and declined an interview. we'd also like to ask a p, i about the critique that it spreads doubts about climate science. but a p, i hasn't replied nor agreed to an interview. exxonmobil and api, i writes that they are working on technologies that may reduce climate change. they've also said this in commercials, plans capture c o 2. what if other kinds of plans captured it to if reduced carbon emission levels to the lowest generation? let's make tomorrow better together. ah, beyond dogs, light beyond petroleum b, b. but our green all the oil companies, actually today we asked the wells 5 largest oil companies, how much they invest in green technology and how much they invest in extracting fossil fuels shall answers that it now spends 5 percent of investments on green technologies. the french oil company to tile says it spends 10 percent b, p, chevron, and

well, they also received money from exxon mobil. they, the oil industry was a main bank roller and cheerleader for opposition to climate action. their financial support of the climate skeptics in the scientific community ensured that we had the references and the citations that we needed to make a credible argument with is the earth getting warmer and there's a lot of discussion about that? is it? oh, i think in it the answer to that is in some places. yes. and, and others know, patrick, michael's doesn't want to comment on the critique that he has received money from the oil industry, climate, skeptical scientist willie soon didn't respond to the critique that he's been paid by the industry. fred sing as lawyer has been presented with the critique of singer, but hasn't replied steve. malloy dropped an interview at short notice and has declined to comment on the critique. many of them have previously said that their research isn't influenced by money from. for instance, the oil industry. this is all about deflection. it's all about

exxon in november 12th, 1982, management of environmental affairs program sent a memo to exxon management on the c02 release is the most likely source of inadvertent climate modification and the prevailing opinion attribute co2 to fossil fuel come combustion. did you disclose that to your shareholders? something that would be relevant to your assets? >> my understanding of those reports was publicly available information -- >> i didn't ask that. did you disclose that to your shareholders in your report? that's my question. >> my understanding is it was a summarized -- >> seriously. i'm not asking what it is. i'm asking whether that information was disclosed in your shareholder report? >> i'm not familiar with the report at that time. >> in february 22, 1989, a report was presented to the board of directors. he stated, quote, data confirm that greenhouse gases are increasing in the atmosphere and fossil fuels contribute most of the co2. to your knowledge, did exxon disclose that to its share how olders? >> we made all of our research publicly available. >> did you disclose it to shareholde

b, p. chevron, an exxon mobil did not answer. so we asked influence map an organization who analyzes key climate issue figures to review their investments. the figures show that all 3 oil companies are at the low end and chevron is at less than one percent. 2 combined figures show that the wells 5 largest oil companies, fossil fuel investments are at 95 percent on average. wow. oh, i think it's fair to say that the climate change deniers have why? that in 1988 jim hanson tells us the climate change is underway. so if it had not been for the denial campaigns, i think it's pretty clear the political momentum was there with the political will, was there. they have succeeded in preventing climate action for several decades where it would have occurred earlier, had it not been for their efforts. today, we could be living in a world where $6080.00 maybe even 90 percent of our energy would be from renewable energy. we've had 30 years, that's a lot of time to make technological change. and we'd also be living in a different world politic

one of those sites belongs to exxon, correct? a simple yes or no. >> i'm not familiar with that report, but we do have a facility in the u.s., yes. >> in sioux creek, wyoming. >> yes. >> 12 of those sites including the one exxon own, the captured carbon is used for what is called enhanced oil recovery, a method to pump out hard to reach oil by injecting pressurized co2, is that correct, simple yes or no. >> yesments 95% of the carbon captured the u.s. sites is used for extracting more oil. to be clear, exxon and others are using captured co2 to extract more oil and calling this a climate mitigation strategy. mr. woods, yes or no, when exxon promotes carbon capture as a climate solution, does this include carbon used for enhanced oil recovery? . congressman, i would suggest you're confusing the technology with uses. carbon capture is is a proven technology for co2, in the stub, shore it in aquifers off shore and not used for enhanced oil recovery. and it's the technology and what you use it for. >> mr. woods, i do have other quest

exxon had grave warnings from exxon's scientists over and over and over again. do you believe it was ethical for exxon to run an advertisement that downplayed the risks and instead highlighted the potential positive impacts of climate change? >> chairwoman, again, i would say that in the full context of the memos you're referencing, the message that came across in the full article was consistent with what the general consensus of the community was, and our mention concluded that there was enough knowledge to know that we should be taking action, that people, government and companies should respond and take practical legal action. that was consistent with the science community at the time, and as time as progressed, we continue to maintain a position involved with science and one that's consistent with science. >> our witnesses today would like you to think that their actions that i have laid out and put in the record are ancient history. but they are not. just this year, an exxon senior lobbyist, chief mccoy, was caught on a video boasting about these efforts, e

research for exxon. ., ., . ., . research for exxon.ns at _ research for exxon. leading academic institutions at the _ research for exxon. leading academic institutions at the time _ research for exxon. leading academic institutions at the time developing i institutions at the time developing research on exxon oil tankers and studying the involvement in global construct and a major undertaking they spent hundreds of thousands of dollars and it was an exciting time and exxon was really forward looking and exxon was really forward looking and a really exciting time to be at exxon and they were doing all kinds of things notjust in climate change. of things not 'ust in climate chance. ~ . , of things not 'ust in climate chance. ~ , ., . of things not 'ust in climate chance. ~ , .,. of things not 'ust in climate chane_ . , ., . ., change. was the research acted on? no, it was change. was the research acted on? no. it was not- _ change. was the research acted on? no, it was not. the _ change. was the research acted on? no, it was not. the res

exxon had grave warnings from exxon's scientists over and over and over again. do you believe it was ethical for exxon to run an advertisement that downplayed the risks and instead highlighted the potential positive impacts of climate change? >> chairwoman, again, i would say that in the full context of the memos you're referencing, the message that came across in the full article was consistent with what the general consensus of the community was, and our mention concluded that there was enough knowledge to know that we should be taking action, that people, government and companies should respond and take practical legal action. that was consistent with the science community at the time, and as time as progressed, we continue to maintain a position involved with science and one that's consistent with science. >> our witnesses today would like you to think that their actions that i have laid out and put in the record are ancient history. but they are not. just this year, an exxon senior lobbyist, chief mccoy, was caught on a video boasting about these efforts, e

ceo of exxon had said. right. and that previous he had said he had denied that there was a link between fossil fuels and global warming. and so when the currency of exxon with ask today about that, he simply refused to admit that that was a mistake, that that was a wrong statement. and so you get this kind of continuing problem of big oil not willing to own up to what its own scientists have been saying for more than 40 years. years president joe biden is struggling to finalize a set of spending bills. he doesn't appear to have the full support of his democratic party for his $1.00 trillion dollars funding program. a key group of politicians says it will not vote on the infrastructure bill without the bill back, better act on and made a trip to meet senate says that the capital to urge them to back the spending package. these are not about left versus right or moderate versus progressive or anything else to pitts americans against one on this is about competitiveness versus complacency. competitiveness vers

on the article dated october 203rd, 2015, the headline is how exxon exxon early public reputations research sponsored workshops and the science behind global warming. but in the company in public took a different posture while still funding the research with millions into the campaign over the next 15 years it took out permanent ads and argued regulations how did one of the largest oil companies become one of the biggest skeptics and actually told the board all of the consequences of denial. we met in the office and asked for a timeline it's not 2021 to hear from your side of the i'll we've gotten a response. the time is expired but the gentle man may answer the question. >> congressman, i'm not aware of the request that you referenced but we will follow up with you the gentleman from pennsylvania is recognized for five minutes.y thank you to the witnesses for being here today. u.s. energy published the outlook for the upcoming months and the forecast is grim. natural gas to heat their homes and they are projected to pay about 30% higher energy prices this winter compared to w last. dependi

about what a previous seo of exxon had said. right. and that previous seo had said he had denied that there was a link between fossil fuels and global warming. and so when the current ceo of exxon was asked today about that, he simply refused to admit that that was a mistake, that that was a wrong statement. and so you get this kind of continuing problem of big oil not willing to own up to what its own scientists have been saying for more than 40 years. but even big oil has to pay attention to what happened in $1094.00 and the tobacco industry. i mean, the tobacco industry is defense in terms of congress then was, i don't know, we roll them, you smoke them. i don't know what happens after that. that didn't fly eventually we're looking at another year of challenges like this to them. they must be thinking that there is a way of us getting out of this, but we are going to get a slap on the wrist. that's right. and you asked where this is going, i'm in the chair woman of the house for a host oversight committee today said at the en

one of those sites belongs to exxon. correct? >> and not familiar with that report.> and both of those sites the captured carbon is used for enhanced oil recovery a method to pump out hard to reach oil by injecting pressurized co2. >> in fact 95 percent of the carving captured at the sites is used for extracting more oil and to be clear using captured co2 to extract more oil to call it a climate mitigation strategy so when i saw and promotes carbon capture is a climate solution doesn't include carbon capture use? >> i would suggest you are confusing the technology withto the use it is a proven technology and concentrates co2 and what you do with that concentration the houston have captures that to store that in aquifers offshore there is a difference between the technology and what you use the technology for. >> yes or no answer. when there's the carbon capture as a climate solution that is used for enhanced oil recovery quick. >> it's too capture co2 and sequester it. >> even though the overwhelming majority deployed is ultimately used to extract even more fossil fu

ceo of exxon had said. right. and that previous he had said he had denied that there was a link between fossil fuels and global warming. and so when the currency of exxon with ask today about that, he simply refused to admit that that was a mistake, that that was a wrong statement. and so you get this kind of continuing problem of big oil not willing to own up to what its own scientists have been saying for more than 40 years. the captain of british fishing vessels seized by france earlier in the week has been ordered to appear in court next year. french authorities said the troll or did not have a permit to operate in their territorial waters. but the owner of the boat, as it was fishing, legally, the dispute between the nations is linked to a post wrecks at fishing agreements, and has escalated and re some dates, will get more on the french reaction with alexia bryan and paris in a moment. but 1st, here's paul brennan, upholstering us from london to tell us a you case perspective on this poll? yes, the se

the c, or is of exxon mobil, chevron b. p. america, and the president of shall, all appeared before the u. s. congress. they were asked about their roles and down playing the threat of global warming, as, as the 1st time that they've actually tested under earth on the subject. how does your castro reports? it's been a year of historic wildfires and the american west. deadly freezes in the south and record breaking, flooding in the east. the fury of these weather disasters likely amplified by climate change nearly matched by the anger of democrats on the house oversight committee, who grilled oil and gas ceos on thursday. there are more of us than there are of you. you can poison the planet to make money, but we're going to defend the planet so we can live and we will win. find it in yourself today to tell the truth. it will be better for your company is futures and will be better for humanities future. the purpose of the hearing, according to the democrats who called it, was to force the oil and gas industry to admit that i

if i am exxon, my emissions are pretty important. if a company employs a lot of workers, then how they treat those workers, whether they pay more than a living wage, worker retention, those are material issues for the company. if there is a company that has huge emissions, that is a material issue. really look at each company and look at the business they are in and use that data, and then it becomes integrated. romaine: this message is resonating at milken? jennifer: it is definitely resonating, how you make money and get the financial services and capital market. romaine: jennifer grancio, engine number one ceo joining us on the platform in los angeles. taylor, back to you in new york. taylor: we still have a lot more to come from milken. we will hear from the founder of entertainment studios next. this is next. this is bloomberg. ♪ caroline: we are live from the milken institute global conference in l.a. romaine: right here in the lobby, i'm romaine bostick. taylor: i am still on set. we will see. let's take a look. i know you guy

who denied any link between fossil fuels exxon who denied any link between fossilfuels and exxon whol fuels and global warming and today the current ceo of exxon was asked about that and was asked to admit it was a mistake and it was not true and he simply wouldn't do that, the ceo would not acknowledge that that is what would happen that exxon had made a mistake at the very least potentially misled the public. the word that their opinions have developed over time was the one they used. the democrats are hoping this will help change public opinion and we should talk about the split between the republicans who are very angry about proceedings, a lot of them, say the committee should focus on government wastage instead. there is a big divide. they accuse the democrats are creating an atmosphere of fear around climate change and saying it was not a significant problem. it is an uphill battle for the democrats to take serious policy action when the republican party is working so hard to ignore the problem and bury their heads in the sand. still to come a bit later in the programme — rest

what both exxon scientists told top executives? >> chairwoman, i do not agree that there was an inconsistency. if you look at the full extent you will find that the comments in the briefing to the management committee which wasn't a secret meeting was entirely consistent with the panel on climate change and the general consensus of the scientific community. our position has continued to evolve and i think our messaging has been that this is a complex problem that is going to require thoughtful and practical solutions and that has been something we've continued to emphasize over time. >> i think the quotes speak for themselves and i'm putting them in the record. there is a conflict between what the ceos told the public and what the scientists were warning but you don't need to take my word for it. scientists testified in this very hearing room they were here with the tobacco executives and testified before thee representatives subcommittee. they said mr. raymond's statements were juste plain wrong. one scientist testified, and i quo

today's lineup apple, amazon and exxon and chevron.things off with apple reporting after the bell the street expecting revenues around $84 billion, earnings of $1.24 a share. investors will be listening for iphone production cuts due to chip shortages as holiday sales expectations after unveiling new products have been high. shares are up about 15% this year joining me is josh lipton along with charlie great to have you both here. josh, what are you watching? >> so i think investors as always will make a bee line for the iphone revenue number. the street is looking for $41.5 billion. i think investors will want more insight for the iphone 13 models, also supply given the ongoing chip shortage. if we're not going to get formal guidance, i think the street wants detailed color and commentary about that all-important december quarter. >> charlie, i can't imagine you're filling your boots with apple here. >> no. today is the day i've got to take my quarterly whipping for not owning apple you've been nice enough to give us credit for what w

chairwoman carolyn maloney of new york zeroed in on 1981 exxon memo. >> a top exxon scientist wrote that it was distinctly possible that climate change would, "produce effects which will indeed be catastrophic at least for a substantial fraction for the earth's population." do you believe that it was ethical for exxon to run a new york times advertisement that downplayed, downplayed the risk? >> if you look at the full context of the memos that you're referencing, the messaging that came across in those full memos and is very consistent with what the general consensus of the scientific community was and our advertorial that you mentioned again concluded that there's enough knowledge to know that we should be taking action-- that >> brangham: republicans on the committee denounced today's hearing, saying it was nothing but political spectacle. >> the purpose of this hearing is clear: to deliver partisan theater for primetime news. this hearing is simply a distraction from the crises that the biden administration's policies have caused for the american people. >> brangham: they also touted

i know you favor that over exxon.d their debt as well, really with a focus, jim, for both of these companies is on their plans to continue to lower their carbon intensity they will announce more aggressive emission reduction plans later this year. >> no exxon, they plan to spend $15 billion over the next five years, and of course the carbon capture projects in development. we are going to get an update as well they have already hit a lot of their goals for 2025 they all were in front of congress yesterday not as many headlines from that as you might have anticipated. they've been in person, maybe there will have been a bit more drama i. >> aoc wanted mike wirth to resign, and i said, please don't resign, it could hurt the stock. >> again, they also can use the increased earnings and cash flow right now to increase spending on reducing carbon. >> by the way, how about, david, you've got to get an over the shell situation. so loew, the acti activist, mig be -- that's exxon this morning, and we'll continue to focus on th

that committee chair woman asking the ceo of exxon mobil for instance, about his reaction to a 40 year old memo, they really wouldn't digging deep here in this memo, written by a top exxon scientist at the time, warning management. at that time, in the 1980, that climate change could have quote, catastrophic consequences. while the seo of exxon mobil did not address that, the company at the time instead went on to bury that research and told the public that climate change may actually benefit the planet. so intense questioning. there . now, course this is partisan, is all things here in washington. republicans on the committee were quick to come to the fios defense, saying that the oil and gas industry creates american jobs and warms american homes, drive cars here. but democrats who initiated this investigation say the hearing is only the very beginning of what's likely to be a very long verification to hold the oil companies accountable. ok, heidi, thanks so much for that update from capitol hill that hearing going on right now, we will speak to kathy movie. she's the accountability

there's chevron and exxon. strongest earnings since 2017, pete chevron, the highest profit in eight years. interesting, you dumped your exxon calls. >> i did as a matter of fact, i've actually trimmed up a lot on the energy front, scott. not for any negative reasons and it just slowed down in terms of the options themselves just aren't as much there as they were and they were absolutely dominating for many, many months going back about 10, 11 months and it completely dragged up, but i will say this. the chevron number was absolutely extraordinary and when you look at the cash flow of 80% and that's a monstrous number that they put up and they had an unbelievable quarter that you mentioned and exxon is really strong, but i pivoted a lot myself over toward the ev space. everything i'm seeing these days seems to be in the vehicles and whether it's tesla and it's not just tesla and neyo and quantum scape. they are day after day after day, neo, lucent and that's been an absolute rip roaring home run as it continues

exxon global warming had developed over time.ney opposing efforts to tackle climate change. here is the ceo of bp america responding. what i would say is that we have stopped all reputational advertising at bp. i know you have taken steps in the right direction and i heard that in your testimony, thank you, but will you take the pledge, yes or no? for your specific pledge what we are advocating for is low carbon policies that do in fact take the company and the world to net zero. that is the pledge i am willing to commit to. well i will ask if you will stop spending money directly or indirectly to oppose efforts to reduce emissions and address climate change. just stop spending money. madam chair... that's all lies. i take it you don't want to take the pledge. all right. let's bring the expert, michael ross, a professor in the political science department and institution of the environment at the university of california in los angeles and joins us now. many around the world including those in office have accused the oil industry

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he's exxon mobil's ceo it's always good to see you.u again. >> let's talk a little bit about the numbers. these are just hitting, but some of the things within the release say free cash flow of $12.1 billion, that was used to do a lot of things, including strengthen the balance sheet, pay down debt. do you want to talk a little bit about what happened and where things stand specifically with the balance sheet right now? >> sure. as you know, prior to the pandemic we were on an initiative to change the organization, restructure, refocus on our competitive advantages and try to leverage those. the pandemic was challenge, difficult market conditions, had to leverage up to continue to support the business and keep the company position for what we knew would be an eventual return to normalcy and we're seeing that down and the steps we took in 2018, 2019 and through the pandemic, cutting our costs and becoming more capital efficient and reorganizing the businesses, are now delivering results we're basically paid off $11 billion of debt and w

. >> exxon mobil has recognized that climate change is real and poses serious risks. >> we work against some of the early efforts, yes. reporter mike this is following the release of a video in june that shows former exxon lobbyist speaking about the company's efforts to fight climate science. but the ceos of exxon mobil and chevron say their companies have not engaged in disinformation campaigns. >> any suggestion that chevron is engaged in an effort to spread disinformation and mislead the public on these complex issues is simply wrong. >> is disgusting -- >> reporter: republicans question the legitimacy of the questions by the democrats. >> this is to deliver partisan theater for prime time news. >> reporter: oil company executive said they would do their part to combat climate change. >>> the united nations climate conference begins in glascow at the uk with the united states as a part of has ambitious goals to fight climate change. joining ms. joe white, the british consul general in san francisco. thank you for being here. >> thank you for having me on. >> talk about the conferenc

s. congress and ceo's of exxon mobil chevron b. p. america, the president of shell, were asked about their roles and down plain stress of climate change. and climate change is expected to be one of the main topics at the g 20 summit in italy. president biden has.

. >>> plus, chevron and exxon generating their biggest cash flows in years how you should react now in the trading sector our trading nation team has some ideas. [ cellphone vibrates ] you'll get proactive alerts for market events before they happen... and insights on every buy and sell decision. with zero-commission online u.s. stock and etf trades. for smarter trading decisions, get decision tech from fidelity. moving is a handful. for smarter trading decisions, no kidding! fortunately, xfinity makes moving easy. easy? -easy? switch your xfinity services to your new address online in about a minute. that was easy. i know, right? and even save with special offers just for movers. really? yep! so while you handle that, you can keep your internet and all those shows you love, and save money while you're at it with special offers just for movers at xfinity.com/moving. >>> welcome back to "power lunch" i'm dominic chu shares of devito down 9% tracking their worst weekly decline since union of 2020. the move comes despite a beat on earnings and revenues for the company. though it did say i

let's see exxon, c e o at the time. explain who they are. we are the largest private company in the world. our company sells a 1000000 barrels a day of product. that's a 1000000000 gallons every 3 dates. back to the american petroleum institute, a p, i where some of the biggest players in the oil industry of meeting one of the participants is myron able and they solicited advice because we had certain kinds of expertise that they didn't have a, it was an industry effort with some help from people like me in documents from this meeting, you can see a clear purpose. victory will be achieved when average citizens understand uncertainties in climate science. and when these uncertainties become part of conventional wisdom, according to the documents, big oil, once the public, to doubt the science behind climate change. and it wasn't scientists who are invited to the meeting. i'm not an energy analyst expert, and i'm not a climate expert i. i have a certain amount of experience in translating a policy into into action. and i suppose that was what

k. government finally agrees to meet exxon. on the 1st of may, 2019 the house of commons makes history becoming the 1st national parliament in the world to declare a climate and ecological emergency. climate change. activism stretches back 50 years. april the 22nd 1917. so the launch of us day 20000000 americans took to the streets on a modern environmental movement was born. in the eighty's, greenpeace took matters into their own hands, heading to the seas to buckle the commercial dumping of toxic waste nuclear testing and whale hunting. today the movement has a new fig ahead and teenager gretta turned back. the older generation have sales tax li, the biggest crisis humanity as a say. by going on school strike sheen spot 1400000 students and 112 countries to join her in a global walk house. the message has been clear for 50 years, but to day the voices louder and more insistence than ever. ha! that cry, change must happen now, ah, the white to representation participation. democracy means that people have the right to choose t

i'm meeting class she prepares for what could be the biggest demonstration in exxon history and come in. thank a feeling hopeful, i'm feeling hopeful that we're going to have more impact william huff, and more people can understand the message and the, and the seriousness of it. the reason why we're to this is because it is this bad. we do feel this afraid to our future. don't know what else to do with extinction rebellions target is the government. but the people who will be hit hardest to day or the every day commuters, as a tried to get to work this potential, then the, all of this can be disrupted and people might be able to get to where they go. and because of the actions that say, hey, how is that justified? we're really sorry. we don't really want to do this, but we also don't want to pass on a livable planet the next generation. we arrive at oxford 2nd at 8 30 am and only a handful of activists ahead we quickly get a taste of where public favour might lie with i'm not quite sure how the group succeed in blocking the very heart of london was the plan here because at the moment

let's get more >>> a good quarter for exxon and chevron.w on record exxon saw the biggest profit in seven years and plans to spend up to $10 billion on buybacks. exxon's ceo saying this morning on "squawk box" that the company remains focussed on the capital discipline >> the steps that we took in 18 and through the pandemic, cutting our costs, becoming more capital efficient, reorganizing the businesses, are delivering results. if you look at the plans we set ourselves to grow earnings in cash flow back in 2018 to double earnings in cash flow, we're basically back on track to do that >> both companies also highlighting their low carbon spending plans one day after woods and chevron ceo mike worth appeared before congress for the industry's role in climate disinformation. back to you. >> pippa, thank you. it is kind of an odd juxtaposition. oil prices are high. economy is coming back that's good for the companies. and at the same time, all the countries are really getting more aggressive and pledging these initiatives to fight climate chang

he's about $289000000000.00 for his personal worth. exxon mobil, 272000000000. exxon mobil, the largest in the fossil fuel industry. so yeah, the futures bright for a guy who, 10 years ago was losing his hair and now has a foreheads, a pretty good bus. swan hope it doesn't have to you and chris the i you both for your time. so good. they and this back craze continues this with the u. s. stock market as content creation cor, phase class has now it will become a publicly traded firm. mitigate $1000000000.00 initial evaluation in a 1st for the gaming collective. the group is i a fundraising hall of nearly $300000000.00 to boost its online presence and endeavors. now, according to phase, the group has a reach of around 350000000 fans across all of the social media platforms. while the hyper on the listing is surrounded by optimism and not everyone is convinced with some journalists in the sphere, calling it just that all high, i mean 1000000000 dollars this surely that, i mean there's been a lot about specs been said for, for many months at least this year after the craze really picked up.

of course, sylvia, if you look at this tweet from exxon mobil, we're supporting the goals of the parents agreement with the little gift they're explaining how they think they're doing that. and, you know, sylvia have to ask you, i mean, it seems as if green washing at its most basic, is really just when a company tries to appear more green than it is as we just heard. but what, what does this morphing into? i mean, how is this becoming maybe more sophisticated? what is the real problematic element? i, it's a very good question and i think the de tweets that you brought up as an example is great because we're talking about advertisements. and we're used to think about advertisement as, as talking about products specific products. but the advertisement that was seen at nowadays from philosophy companies very rarely display a project that they're trying to sell and eat. so a lot more than just then selling it, selling the product itself. well, i didn't, i don't think any of us has seen recently a fossil gas pipeline on a positive company ads or a barrel of oil, what they do isa, and exactly

we do see exxon continuing to invest in some areas for fossil fuels.sin in texas and new mexico. overseas where you have a lot of political uncertainty where retrenchment may occur. david: andy, i'm just wondering, the major risk here of course is abandoning fossil fuels before we have an alternative to it and we don't. we know the limitations of wind power and solar, et cetera. i'm just worried about our energy grid, not only the prices of natural gas which is going to worry a lot of people as we get colder during the wintertime but our grid system is in danger, particularly as we have all the new electric vehicles on the road too. going to kneeled more energy. where is that energy going to come from? >> you're in very good company because when we have the proliferation of electric vehicles, you look at a state like california where they're already short of electricity. we know that the water levels in lake meade are very, very low. there could be a energy crisis in the southwestern part of the united states as early as next year and you have the publ