valero, exxonmobil, chevron, royal dutch shell among the energy companies rallying. our next guest labelled energy as the top play. >> the argument for the energy trade is wti has a capacity to go higher. that there is no demand at higher prices. in your notes that i got, you say $252 is the magic number in terms of when energy could have a deleterious ineffect on the economy. why that level >> yeah. melissa, it's a rough number one thing we have to remember is oil really took the economy pushed it into recession in 200 # at $133 oil. in the last 14 years, the u.s. economy is less energy intensive. and we've had general price inflation. so for oil intensity to hit the economy the way it did in '08, it needs to get to $252. >> tom, when you look at the sectors and subsectors, when i look at an exxonmobil, large integrated player, the stock is up over 50%. when i look at the emp space, eog up is 90%. refiners are doing less than that the do you get into the granular of that or are you just thinking about the commodity as a whole >> that's a great question oil has risen

on its website, exxonmobil says it's data on climate change was published in scientific journals. however, x on fails to mention. the ad says later put out, calling the science unsettled. i mean the, as they were put out, i don't think anyone in their scientist, scientific division can support them as a scientist and say, this needs a truthful facts that we're putting out. but i think the statements they were making were clearly misleading and designed to, to, to mislead people. so while the oil industry publicly spread doubts internal documents show that its own scientists had warned of global warming. and this 1978 confidential report for exxon's management. a senior scientist says it's scientifically accepted that fossil fuels influence climate. he also writes that within 5 to 10 years, humanity may have to make tough decisions in this field. a few years later, in 1981, the head of exxon's research department warns that the consequences of global warming may be catastrophic for a substantial fraction of the population. that was almost 40 years ago. yet exxon's ceo later says th

. >> for what exxonmobil does, yes, i am. >> thank you, thank you for that answer. it's not a coincidence that toxic waste is frequently dumped in black communities like mine and when it-- my basement in st. louis county in a predominantly black neighborhood radioactive waste next to my front bedroom due-- by your production and burning of fossil fuels. and playgrounds flood with radioactive water. would you send your children to one of these schools, yes or no. >> i'm sorry, could you repeat the question, please. >> would you send your children to one. schools where radioactive waste where we have this flooding, thank you. >> i would not. >> i don't want to either and neither does my community. it's not a coincidence that our communities are more likely to flood. you've known this flooding was coming for years. miss watkins has, too, miss watkins in the 1988 shell report page-- it says low lying areas like-- does it bother you deems a country 98 million brown people to-- yes or no. >> congresswoman i'm glad my company has been involved in the science research and i

exxonmobil has roughly 70,000 employees. we're proud of the contributions we make every day to improve the lives of people across the world. exxonmobil has long recognized that climate change is real and poses serious risks. but there are no easy answers. as the international energy agency has said, oil and gas will continue to be necessary for the foreseeable future. we currently do not have the adequate alternative energy sources. at the same time, we know the combustion of oil and gas releases greenhouse gases and that the united nations intergovernmental panel on climate change has concluded that increased greenhouse gases can contribute to the effects of climate change. that's one of the issues we must address and one that we are well-positioned to continue our work on, reduced the emissions that result from the combustion of oil and gas. this hearing comes at an important time, as the world is challenged with how to meet the growing need for energy while reducing emissions to mitigate climate change. the recent disrupt

exxonmobil, they employ a lot of smart chemical engineers. energies were saying what we now know, if you double co2, you're going to see one to three degrees of warming, it will be catastrophic. now you have people delaying, denying, and somehow they have to go home at the end of the day, look their grandchildren in the eye and say, i still deserve your respect. we're all in this together. we only have one planet. >> we know these companies stand accused of spreading disinformation about climate change. as we heard in the exchange at the top of this segment, some of these companies are still unwilling it call it a mistake, even knowing what we know now. how confident are you that these oil companies are going to do the right thing, as you see it, given that they have such entrenched, moneyed interests on capitol hill right where you stand? >> to some degree it depends on how they see their business model. are they in the business of providing people with access to reliable, affordable energy or are they in the business of pulling things out o

when exxonmobil and api i right, 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 is reduced carbon emission levels to the lowest in a generation? let's make tomorrow better together. ah. beyond dogs, light beyond petroleum. b, b. but our green ah, 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. chances that it now spends 5 percent of investments on green technologies. the french oil company total says it spends 10 percent b, p, chevron, and exxon mobil did not answer. so we asked influenced 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 less than one percent. 2 combined figures show that the wells, 5 largest oil companies, fossil fuel investments, are at 95 percent on average blue . i think it's fair to say that the climate

exxonmobil has roughly 70,000 employees. we're proud of the contributions we make every day to improve the lives of people across the world. exxonmobil has long recognized that climate change is real and poses serious risks. but there are no easy answers. as the international energy agency has said, oil and gas will continue to be necessary for the foreseeable future. we currently do not have the adequate alternative energy sources. at the same time, we know the combustion of oil and gas releases greenhouse gases and that the united nations intergovernmental panel on climate change has concluded that increased greenhouse gases can contribute to the effects of climate change. that's one of the issues we must address and one that we are well-positioned to continue our work on, reduced the emissions that result from the combustion of oil and gas. this hearing comes at an important time, as the world is challenged with how to meet the growing need for energy while reducing emissions to mitigate climate change. the recent disrupt

. >> we saw a huge take in exxonmobil it trades actively, about 90,000 contracts a day is traded, but today it was a little over 100,000 much but 25% of today's volume was in a single trade where a trader sold 26,645 of the december 65 calls at about $1.01. this was likely sold at -- this is a trade that expresses a view that they think there is limited upside in exxonmobil and perhaps limited upside in oil stocks as well if these calls were sold against an equity position, that equity position is worth about $162 million as of today's clothes so a lot of weight behind this particular trade >> guy, what do you think of exxon? >> it was gdowngraded by goldma sachs. this is probably worth a shot in earnings at the end of the shot. energy, i don't think the trade is over at all i think it's taking a pause. look at the way some of these oil names traded halliburton and schlumberger which were down early closed up. >> but exxon won't give you some of the same leverage as the other ones, steve. into it is not, but almost like the kinder trade, the stability that you are looking for when you

get reports on personal income and spending, manufacturing and consumer earnings from chevron and exxonmobilantime, halloween is on sunday but target is rolling out deals starting on halloween. new this year, it will ties deals as holiday bests to let you know it will be the best prices of the season. those deals will be unveiled every sunday during the holidays and are available in scores and on time. meanwhile, the squid games have gone from 1.2 cents to more than 3 bucks, and holder can take part in online games inspired by games in the show with a chance to win cash prices. laura and marcus, i don't think anything happens to you if you lose like it does in the show. >> i hope not. i don't want to play. >> hopefully not. >> right? >> oh, you moved. >> yeah. >> i never seen that but i just know that from stuff online. >> we're not playing, bertha. we're not playing. >>> 4:42, and still ahead a look at the weekend forecast, and the drive. kari, how are we looking? >> looking good. temperatures milder right now as we are heading out in san josÉ, and we will see a nice warm-up, kind of like y

the committee just released a report in the last few minutes showing that less than 1% of exxonmobil'sre isn't going to be any real policy outcome from this, and republicans have been event theater intended to embarrass the oil executives, but rokona, he says he hopes this will lead to a full and to fuel fossil fuel subsidies from the federal government. >> there's members that are clearly hoping to kind of tie this to the big tobacco moment, but this is an industry that employs thousands of people across the country. how do you strike balance of accountability and then protecting livelihoods of these workers? >> well, first of all, you have to hold these oil companies accountable. i'm so pleased to see the congressmen investigating and getting the facts on the table. this is like smoking. the facts are clear. the risks to human lives are here. it's good. in terms of striking the balance, i think it's important to remember the industry isn't monolithic. some of the companies are acting more responsibly than others. the big thing is today the companies have an opportunity to prove if th

the at one point exxonmobil was ultimate powerhouse, bain of all progressives, the bane of the companyng about not drilling big projects. how do we find a way to make money off the solutions to inflation? we'll be right back . and is being studied in hundreds of clinical trials exploring ways to treat even more types of cancer. it's tru. keytruda from merck. see the different types of cancer keytruda is approved to treat at keytruda.com, and ask your doctor if keytruda can be part of your story. as someone who resembles someone else... and ask your doctor if i appreciate that liberty mutual knows everyone's unique. that's why they customize your car insurance, so you only pay for what you need. oh, yeah. that's the spot. only pay for what you need. ♪ liberty, liberty, liberty, liberty ♪ (naj) at fisher investments, our clients know we have their backs. (other money manager) how do your clients know that? (naj) because as a fiduciary, it's our responsibility to always put clients first. (other money manager) so you do it because you have to? (naj) no, we do it because it's the right thi

they got up and lied i think what you're going to see is a conciliatory tone chevron and exxonmobil, say we agree that climate change is a serious problem and we are working to evolve to try to mitigate it terms like carbon capture and net zero and the european companies there like i said are going to say, we're doing more than is necessary, more than our u.s. counterparts and selling off assets and working to decarbonize. whether we'll get real change and regulation is unlikely a carbon tax would be the closest thing to a legislative outcome to this hearing. a lot of noise, we'll see if there's any damage. >> you'll be following that noise in what's going to be a busy day in bringing us those headlines. thank you. >> okay. >>> still to come, don't miss the ceo of ebay on that company's quarterly results. the stock taking a htoisry after issuing weak q4 guidance the shares are down 8% right now. we'll be back. ♪ ♪ peerless design, cutting-edge tech, and a world-class interior. the exhilarating mercedes-benz glc. extraordinary runs in the family. [coins clinking in jar] ♪ you can get

p has a say in what will be researched. exxonmobil said at funds, universities to promote green technologies. and shell tells us that wants to help solve the serious climate challenge. why is this a problem? i mean, if they use their money for doing some research for good, what was the problem when the very people, the very institutions, the supposed to be solving the climate crisis, a fundamentally reliant on the industry that has the most to lose from their work. that's a pretty big conflict of interest. jeffrey super thinks that the many millions are intended to influence students, teachers, and scientists. this strategy come straight out of the playbook. the a p i. strategy paper also states informing teachers and students about uncertainties in climate change will erect a barrier against efforts to impose kyoto like measures a measure put in place to limit the emissions of c o 2. and that's why in the medical research community, there are a stablished practices there established rules by which one must disclose these kinds of conflicts of interest. many universities used to receive mill

ceos from exxonmobil, bp, chevron and shell pushed back against accusations that the industry misled the public about climate change. they all testified climate change is real, saying that their companies are taking steps to address the crisis. >> at chevron, we've been very clear about where we stand. we accept the scientific consensus. climate change is real, and the use of fossil fuels contributes to it. >> i agree that climate change is one of the biggest challenges that we have in the world today, which is why at shell, we're in action. >> you are powerful leaders at the top of the corporate world, at a turning point for our planet. be better. >> carolyn maloney, chairman of the reform committee, said she would be issuing subpoenas to get information not provided at yesterday's hearing. >>> a terrifying ordeal for a wealthy reality store in los angeles. robbers broke into the mansion of "real housewives" star dorit kemsley. they threatened to kill her before making off with a trove of her valuables. >> reporter: this morning, los angeles police are investigating the home invasio

now you have major corporations like these airlines, like exxonmobil, saying, we are going to do whats best for our private companies. >> it's so interesting that some of these republican governors that have run their entire life claiming to be pro-business have declared war on business. i always talk about the importance of the small business owner, the family restaurant, the young entrepreneurs that have start-ups that are trying to build their businesses. you have greg abbott. you have ron desantis. you have other republican governors that are actually stepping in and stomping on them, taking away their freedom as a private enterprise, as a free enterprise business to do what they think is best for their companies. to keep their doors open. to keep their restaurants open. they're taking away that choice. it's like a socialist government not letting a private business, a family business do what they think is best. i don't understand it. mike barnicle, now you have the biggest corporations saying the same thing. the biggest corporations that understand they need their people working,

i would like to introduce our witnesses, our first witness today is the ceo of exxonmobil. then we will hear from michael who is the ceo of chevron and then we will hear from david lawler who is the ceo and next we will hear from mike summers, the president of the american petroleum institute. then we will hear from the president and ceo of the u.s. chamber of commerce. then we will hear from new neil crabtree, a former welder. please raise your right hand. he swearword that the testimony you're about to give is the truth and the whole truth and nothing but the truth? so help you god? >> yes, i do. let the record show that the witnesses have answered in the affirmative. >> thank you. >> the written statement will be part of the record. >> madam chair, thank you. >> i have a question. is there a reason why none of the witnesses traveled here to washington today to represent their representative respective company. >> fayette elected to appear remotely and they have that right. >> thank you, madam chair. >> mr. woods, you are now recognized. >> thank you, chairman. thank you

similar kinds of protestations from previous oil ceos, most notably lee raymond who was ceo of exxonmobil global warming and today the currency of exxon 7 current ceo. he was asked to admit that was a mistake and not true and he said he simply wouldn't do that and that the ceo would not acknowledge that this is what had happened and that exxon had made a mistake at the very least and potentially misapplied the public. the words developed, - misapplied the public. the words developed, their opinions have developed over time was the word they used. the democrats obviously hoping this will change public opinion and we should talk about the split between the republicans who are very angry about proceedings and a lot of them saying the committee should focus on government wastage. there is a big divide. government wastage. there is a bi divide. , ., , government wastage. there is a big divide-— big divide. there is only one ofthe big divide. there is only one of the republicans - big divide. there is only one of the republicans on - big divide. there is only one of the republicans on the i of

i would rather be a buyer of large integrated names exxonmobil is up 46% year-to-date this is from switcho value then i don't have to know the g granularity involved in investing in nat gas >> why not coal? this is circa 2009 when we talk about fpeabody. >> gas trade in any market i agree. coal prices are a harbinger for higher prices. this is green-flation. there are a lot of factors that make it up >>> coming up, a can't-miss interview moments ayaw >>> but first class is in session with professor tim seymour. what it is and how he's trading it when we return. we cut to downtown, your sales rep lisa has to send some files, asap! so basically i can pick the right plan for each employee... yeah i should've just led with that... with at&t business... you can pick the best plan for each employee and only pay for the features they need. you have the best pizza in town and the worst wait times. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire that building you're trying to sell, matc-

journal goes on to report the greater houston partnership which represents 900 companies including exxonmobil jpmorgan chase said governor abbott as order will make it difficult to separate safely. the organization has been generally supportive to require vaccines. monday's orders was a shift for the texas governor who previously maintained that private businesses should set their own employee requirements. meanwhile, a florida county administrator is blasting governor ron desantis, after being slapped with a more than $3.5 million for implementing an employee vaccine mandate. leon county's vince long calls it, quote, a political strat with which has nothing to do with the decisions that were taken. and the county required all its employees to get vaccinated by october 1st. and subsequently fired 14 people who refused to do so. in a statement, desantis' spokeswoman writes in part, quote, the governor will continue fighting for floridians' rights and the florida department of health will continue to enforce the law. white house press secretary jen psaki is also criticizing local governors who

top executives from bp, chevron, exxonmobil, and shell appeared before the house oversight committee thursday during six hours of testimony, repeatedly refusing to pledge to stop lobbying against congressional efforts to combat the climate emergency. new york democrat carolyn maloney gaveled in the hearing. . >> this is a historic hearing for the first time, top fossil fuel executives are testifying together before congress under oath about the industry's role in causing climate change and their efforts to cover it up. for far too long, big oil has escaped accountability for a central role in bringing our planet to the brink of a climate catastrophe. that ends today. amy: throughout the hearing, republicans repeatedly apologized to the oil company executives, while progressives grilled them over their campaign to prevent action on the climate crisis. this is new york congressmember alexandria ocasio-cortez. >> one thing that often gets lost in these conversations is that some of us have to actually live the future that you all are setting on fire for us. i 2028, crop yields are alrea

and your pain for the advertising of exxonmobil exxon or mobil gas station 7. gasbuddy use reward programs. most rewards programs or $0.25 per gallon. a gas station. that's $0.5 off. you know, that's that's good. it adds up per dollar. chapman is about us trying to get out. but doesn't. it's good. yeah. i'm not going to get your free gas, but we get cheaper gas. i use my 2% money-back. my city, my cash card. so my gas, my get dollar gas really 98 since the cast. so use what you have out there. i think that rewards card, the grocery cart you safe way. my phone number to get a discount have to use that within 30 days of shopping safeway. right. but it all adds on the safe side should get the land rush to get the prius because the prius was like 5,000 bucks for that car. yeah. it's 50 miles, a gallon. >> a lot better and all i will say i will back up and i'm rob suggestion both safeway and gasbuddy dot com using both and that saves a lot of money. all right. thank you very much. rob. and again, yeah, absolutely. let him know what topics are. interesting to you one

that makes him as a human being, more wealthy than all of exxonmobile.s new reality or should it stay mired in the past? it may sound like a leading question because it is because we're going to get into it with someone who has been leading on the issue. senator elizabeth warren is our special guest and we're back in 60 seconds. try this robitussin . the real honey you love... plus the powerful cough relief you need. mind if i root through your trash? now get powerful relief with robitussin elderberry. ♪♪ we believe everyone deserves to live better. and just being sustainable isn't enough. our future depends on regeneration. that's why we're working to not only protect our planet, but restore, renew, and replenish it. so we can all live better tomorrow. ♪♪ >>> we're back with senator elizabeth warren. thank you for being here. >> thank you. i'm glad to be with you. >> is a wealth tax fair? how would it work? >> wealth tax is a whole lot fairer than what we have right now. so, look at it this way, the problem in america right now with billionaires is that

$500,000 by a coal company owned by his son and received significant campaign contributions by exxonmobillled him the king maker in the senate. not surprising he doesn't support the climate provisions in the build back better agenda but then there is krysten sinema and we never know where she stands this is her incredibly disrespectful answer to reporters and her own constituents in arizona. >> progressives that are frustrated they don't know where you are. >> i'm in the senate right here. >> the progressives? there are progressives within the senate that are frustrated they don't know where you are, either. >> i'm like literally right here at the elevator. >> as we've said before on this show, sinema used to be somewhat of a progressive. in 2010 she said congress should use reconciliation. the following year she tweeted that asking big corporations of the rich to pay their fair share is common sense not class war fair. if that's going too far back in time, here he is in 2018 campaigning on lowering prescription drug prices. >> growing up, our family struggled to make ends meet and we did

. >> committee chair pressed exxonmobil's ceo about whether the company deceived americans about theany's own scientists. >> so i'm asking you, mr. woods, do you agree there is an inconsistency between what mr. raymond, the exxon ceo told the public and what mr. black and mr. cohen both exxon scientists told top executives? >> no, i do not agree there was an inconsistency. i think our position on that has continued to evolve scientific kmukt. this is a problem that requires thoughtful practical solutions. that is something we continue to emphasize over time. >> we'll turn back to president biden's agenda in a moment when the caucus chair joins us live. you're watching "meet the press daily." press daily. ou really want it, by jimmy cliff ♪ [suitcase closing] [gusts of wind] [ding] paul loves food. but his diabetes made food a mystery. everything felt like a "no". but then paul went from no to know. with freestyle libre 2, now he knows how food affects his glucose. and he knows when to make different choices. take the mystery out of your glucose levels, and lower your a1c. now you kno

reporter: well, victor, there are a bunch of big names based down in texas, at&t, oracle, dell, exxonmobil, and we have been wondering all morning, will they comply? well, we just heard from american airlines and southwest, they say they will not comply with the governor. they will continue following the federal law, which says that they've got to mandate vaccines for their employees. now, governor abbott had already said that government entities in texas were not allowed to mandate vaccines. today, he just went a step further, a big step. in texas, governor greg abbott just doubled down. now no one, not even private companies, can mandate covid-19 vaccines for staff or customers. vaccines, he says, must always be voluntary for texans. new york city mandates vaccines for pro athletes, so the brooklyn nets just announced kyrie irving won't be playing. he could have played away games but says the gm, we will not permit any of our team to participate with part-time availability. >> we don't like to be telling people what they need to do with regard to vaccines, but we know that mandates work.

at&t, halliburton, exxonmobil but i'm thinking of southwest and american airlines. to thrive they need the mandates so people feel safe getting in the plane. 7-eleven, they need it. i wonder if at some point the business commuity pushes back and say you can't do this to us. >> that woke corporation halliburton. >> so woke. >> look, i mean, look at this, i want to go a step lower than that. think if you're in a nursing home and you're in texas and you have elderly people that have co-morbidities and other reasons they could have breakthrough cases, you -- i think everyone who has their mom or aunt or uncle or grandparent in a nursing home would want that place to have a vaccine mandate. right? who wouldn't want that? in texas, greg abbott is banning nursing homes from being able to have a vaccine mandate so you could have an unvaccinated nurse coming in and there is nothing you can do it. it absolute madness and if you think about how ridiculous and one very small thing. if kyrie wants to be a voice, if these guys that want to be a voice for the voiceless want to qui

. >>> in about 30 minutes get ready for serious fireworks, top executives from exxonmobil, bp, chevrone house oversight committee plans to grill them on evidence their companies knew for years and years that their products and efforts were hurting the environment and speeding up cli xhat change. josh lederman is on capitol hill. why are they doing this now, beyond fireworks and zingers and katie porter giving a beat-down, what's actually going to happen to the executives and their companies? >> reporter: the immediate trigger for this hearing, stephanie, was that undercover video over the summer of an exxon executive cynically describing how the company undermined efforts through lobbying to address climate change. democrats wanted to hold this hearing for a long time, pining for the chance to drag these ceos before cameras, put them under oath and try to get them to admit their companies knew decades ago that the product they sell, fossil fuels, was contributing to global warming, and that they hid that fact from the public. of course, these ceos have no intention of admitting that un

but it gives us a talking point that we can say, well what is exxonmobil for?ell, we're for a carbon tax. william: exxon has said mccoy's statements were not reflective of the company. democrats pressed the executives, claiming the companies knew for decades about the potential threat posed by climate change. chairwoman carolyn maloney of new york zeroed in on a 1981 exxon memo. rep. maloney: a top exxon scientist wrote that it was distinctly possible that climate change would -- quote -- "produce effects which will indeed be catastrophic, at least for a substantial fraction of 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 that full -- 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 act

laws yesterday, houston businesses spoke out saying it does not support the decision including exxonmobil, chevron and jp morgan chase. you are receiving conflicting memos. as an employer, huh do you handle it. >> how voters in the state of texas will think about this there is a very free market about capitalism and businesses where both were very happy when president biden put that mandate in place because as a business it has wanted to do the entire time. >> by forcing the issue, you've backed people in the corner and may have done some of these things when they've backed into the corner it will take a while to have settled in the courts. joining on the meantime. he worries then by forcing you've got people making decisions and this is the party i affiliate with these are the questions i have with vaccines and forcing the issue, gottlieb will force more of an issue. >> wait until you see p what will happen with kyrie irving. brooklyn nets announcing the star -- and he is a star more than just the three kyrie irving won't play or practice this season unless he get vaccinated he's current

board of directors at largest oil company exxonmobil are now pulling out of major projects, this isg out of these projects, because of this pressure to change its business. what do you think happened here when you've got largest company in oil sector, saying it is not going to actually pure projects it generators revenue from. >> you see that happening, we just talked about that you know when you talk about administration that is not only threatening, but planning to put more tough regulations on our industry, that it already has all things on it, you know, it costs us, companies pulling back on large projects, that is what you are seeing here. you are also sealing exit by europeans as i call it first petroleum fell, other big companies, that frankly going home, and they have mandates imposed those companies, countries pulling out. they have a large effect on supply. >> you mentioned europe look nord stream project what that has done, russia, the censorship you say facebook day censoring american emergency share images so advertisements promoting careers full conferencing -- blocked

as for exxonmobil, those shares up we talked about it, of course. about that, but we'll keep a close eye on what is also a radical transformation that may be taking place at one of the largest certainly producers of oil in the world with the s&p now down 1.4% and megacap tech taking a big hit. that will do it for us on "squawk in the street. send it over to "techcheck" right now. ♪ ♪ >>> happy monday, welcome to "techcheck." i'm jon fortt talking to julia boorstin and carl quintanilla. half of the stocks are 20% off their high it is now the time to reset in tech >>> then leading the

. >> kristina, heard a lot put a price on carbon, especially companies like exxonmobil would very muchat they're doing right now. >> right, there's so many sbrepss in the mark that's because there's no one-set verification process there are third party certification that's you can receive. but because of being so inconsistent across the globe, that's why we have price discrepancies. >> kristina, that's a conversation we'll continue to have, fascinating. >>> better get a quick check on the markets s&p down fractionally the dow slightly as well the russell 2,000 small caps are higher that's if for "squawk on the street." "tech check" starts now. ♪ ♪ >>> good tuesday morning welcome to our big hour of "tech check" i'm carl quintanilla with jon fortt and julia boorstin today, the internet's third rail jason calacanis joins us with whether facebook is investable here >>> plus, what's the opportunity in tech, wearabl

second of all, facebook and amazon spent over double the amount of lobbying last year, more than exxonmobilion. and you just don't really know how to legislate it anyway i think the return dynamic stays the same -- it's generally favored by esg investors because ultimately it's hard to major esg. >> you get to an important point here, it's hard to measure esg and a lot of market funds on that, and they can't because of they're at the behest of those investing with those a spoke with a long capital inv investor, he brought up the point, tariq, saying it has to be the bad actors you have to engage with, not necessarily the good ones? >> that's right. engagement is only going to get you so far with facebook for the last few years to change the government structure and the majority of people are now c called zuckerberg risks. and nothing has changed. 50% growth and 43% margin. and that's why esg is likely to redefine capitalism. and if it does, it does it by destroying capitalism, but the changing market. look, i'm 43 most of the people younger than me don't believe in capitalism, right? >> all

when you talk about exxonmobil, big oil, the biggest oil company in the world had board members saying we're not sure if it's going to be away, but we have the ceo saying the opposite, saying that right now the world is not investing enough in fossil tulles to meet demand -- fuels not only in the short term, but in the long term. and that is a risk to the global economy. so this rush to transition fuels becomes more political. it's not based on science, it's based on panic, and when you make long-term decisions on energy based on panic and not fact, it leaves the world short of supply, and that's whey we're seeing these -- why we're seeing these incredible price spikes around the globe. ashley: we used to be energy independent under the trump administration's policies. how much have we gone backward from there, phil? >> dramatically. in fact, if you look at the policies under the biden administration, you're seeing a drop in u.s. spending for oil and gas dramatically. and what is worse, the biden biden administration is going to take steps to make sure that we don't invest in fossil fu

. >>> meanwhile "the wall street journal" is reporting that exxonmobil is debating abandoning some of as the energy landscape keeps revolving. reaction from lipow oil associates andy lipow. thanks for being here. so is exxon oil getting out of oil? >> they're not getting out of oil. exxon is looking at the megaprojects overseas costing in excess of $30 billion and trying to decide on one hand, should they give that money back to shareholders projects will take five years and what the return will be after that? or on the other hand are they going to look at their commitment to reduce emissions and can sell the projects. david: what are these projects specifically and why are they canceling them? is it because of the push for green energy they're canceling or some other issues involved? >> well, first we should be clear they're not canceling them at this time. they're debating what they should do in the future. the first project in mozambique in africa to develop liquified natural gas. in mozambique earlier this year an islamic insurgency that shut down the construction of a similar typ

woods, what percentage of exxonmobil's revenue is used to train your workers for jobs in renewable energy sectors? what percentage? >> we're focused on making sure that our work force is capable of operating our current operations and we're investing time and resources. >> i'm sorry. >> to solutions-- >> i'm going to reclaim my time since you weren't providing a percent tanning. would you commit to provide the committee documentation for the answer. >> we'll work with you to give you what you need. >> mr. percentage of chevron annual revenue is being use today train your workers for jobs in renewable energy sectors. >> congresswoman, i don't have a number on that. we're committed to meeting the needs of the world today. >> sorry. >> and prepared to do that. >> i'm sorry, i'm going to run out of time. would you provide the committee with this answer. >> we will work with the committee to provide responses. what percentage is shell to retrain workers in renewable? >> i don't have a number, but what i'll work to get some. we have off shore and-- . >> i'm sorry. >> and now i hope-- >> i'm goi

maria: welcome back chevron exxonmobil trading higher on better than expected earnings oil giant boths driven by surging oil gasoline prices exxon announced launching a shared buyback program beginning next year, as you can see, both up 1 1/2% apiece, watching big tech loser of the morning apple, amazon lower after results last night amazon missed top and bottomlines down 4 2/3% apple in line with expectations revenue below estimates apple ceo tim cook said the supply chain crisis costs the company six billion in revenue, had 83 billion in revenue on earnings of 20 billion stay with us. we'll be right back with more "mornings with maria." live. . .. ♪ ♪ peerless design, cutting-edge tech, and a world-class interior. the exhilarating mercedes-benz glc. extraordinary runs in the family. electro meccaninca is a designer and manufacturer of the innovative solo ev, a purpose built single seat electric vehicle designed to revolutionize urban driving challenges. the solo has a hundred mile range, 80 mile top speed. it's highway capable and loaded with modern amenities. with initial deliverie

exxonmobil, for example, that is another one you like i think? >> oh, it is.ring up exxon today, my analyst at our firm ran a report for me yesterday where we looked at the oil price movement over the last 50 years and exxon's dividend through that time period. six times oil prices have had a major drop, i mean they have had hundreds of small drops but six times a major drop and all six times exxon maintained and grew their dividend through that period. so we don't believe exxon is dependent on a high oil price. now look, we don't like it like last year there obviously much more precarious financial position but they navigated through it. they cut back their expenditures. it is now paying basically a 6% dividend but they have been growing that over 6% per year for 50 years. and right now, stuart, for the first time in a decade, their cash flow has doubled the amount of the dividend. so there is a lot of safety built up because of improved capital discipline. we like what we're seeing out of exxon. stuart: made a very good case right there. david, thank you ver