Largest U.S. Oil Producer Vows Net Zero Emissions by 2050

ExxonMobil, the largest American producer of crude oil, outlined its plan Tuesday to achieve net zero carbon emissions by 2050, improving upon previous goals.

The major oil producer identified more than 150 “potential steps” that will help it achieve net zero emissions on its operations within 30 years, the company announced. ExxonMobil will increase investments in carbon capture and storage technology, hydrogen and biofuels, and bio-based plastic waste streams.

“ExxonMobil is committed to playing a leading role in the energy transition, and Advancing Climate Solutions articulates our deliberate approach to helping society reach a lower-emissions future,” ExxonMobil Chairman and CEO Darren Woods said in a statement.

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Minnesota Gov. Walz Pushes for Subsidized Biofuels but Economists Warn of Climate Damage, Higher Food Prices

Gov. Tim Walz asked for President Joe Biden’s continued support for the biofuels program last week, despite economists’ concerns over concerns about biofuels’ inefficiency and costs. 

Biofuels — bioethanol and biodiesel derived from plants — since 2005 have been pitched as a solution to climate change because they decrease dependency on fossil fuels.

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