As CEO of the energy giant, Darren Woods is leading the third-largest U.S. company through the energy transition. While Exxon Mobil is investing in low-carbon solutions like hydrogen and carbon capture, he is not yet convinced that the world as a whole has what it takes to achieve its decarbonization goals.
The conversation starts with Woods stating that Exxon Mobil is a “technology company.” He then summarizes all of Exxon Mobil’s decarbonization efforts, from carbon capture to its lithium business.
When cohost Alan Murray asks if Exxon Mobil is investing enough in renewables compared with European companies, Woods explains why he believes that comparison can’t be made.
Woods then addresses Exxon Mobil’s controversial past, the current challenges it faces with activist investors, and why he thinks 2050 isn’t a realistic goal for getting to net zero.
During the conversation he also breaks down the impact the IRA (Inflation Reduction Act) has on Exxon Mobil’s decarbonization strategy; his outlook on electric vehicle adoption; Exxon Mobil’s responsibility to push the markets toward low-carbon solutions; the core values the company leads with; and how he likes to relax.
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00:00 - Welcome To Leadership Next
00:39 - How Exxon Can Help Solve The Climate Crisis
03:49 - Addressing Exxon Mobil’s Controversial History
05:16 - Exxon Mobil’s Investment In Decarbonization
08:38 - How Much Investment In Renewables Is Enough?
11:25 - Pushback Against Activist Investors
17:38 - Can We Complete The Energy Transition By 2050?
22:02 - Will Inflation Reduction Act Subsidies Get Us To Net Zero?
23:52 - Electric Vehicle Outlook And Lithium Business
28:03 - What’s Exxon Mobil’s Responsibility To Drive The Markets Toward Renewables?
35:02 - Exxon Mobil’s Core Values
38:30 - Advice From Darren’s First Manager At Exxon
40:40 - More Core Values
41:17 - What Do You Do To Relax?
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