35 Burst results for "Exxonmobil"

BlackRock Defends Work With Climate Groups Amid Republican Attacks

Mark Levin

01:13 min | 3 weeks ago

BlackRock Defends Work With Climate Groups Amid Republican Attacks

"A BlackRock Inc executive said the top asset managers work with investment industry groups doesn't prevent it from making independent decisions for clients Looking to counter a growing line of attack from Republican U.S. politicians Rights Reuters Delia blast BlackRock senior managing director In a letter sent late today wrote that we do not coordinate our votes or investment decisions with external groups or organizations You do impose your will otherwise this would not be an issue For instance she wrote that when BlackRock joined the climate action 100 plus An effort among big investors to engage companies on climate change the firm made clear that it was not a grain to trade shares or acting concert with other investors to acquire tight control of any company I seem to have read I think it was in the New York Post That they did in fact compel ExxonMobil to choose one or two radicals to serve on its board

Blackrock Inc Blackrock Delia Reuters U.S. New York Post Exxonmobil
High oil prices help Saudi Aramco earn $88B in first half

AP News Radio

00:51 sec | Last month

High oil prices help Saudi Aramco earn $88B in first half

"Global oil companies are posting huge profits I'm Lisa dwyer with the latest Saudi energy company Aramco says its profits jumped 90% in the second quarter compared to the same time last year That helped Aramco's half year earnings to reach nearly $88 billion for the first half of the year The increase is a boon for the kingdom and The Crown prince's spending power as people around the world pay higher prices at the pump major oil companies have a strong quarter last quarter ExxonMobil booked an unprecedented $17.85 billion in profit Chevron made a record 11.62 billion in shell shattered its own profit record Aramco says the profits were driven primarily by higher crude oil prices volume sold and higher refining margins Saudi Arabia's vast oil reserves are among the cheapest to produce in the world I'm Lisa dwyer

Aramco Lisa Dwyer Crown Prince Exxonmobil Chevron Shell Saudi Arabia
Biden Is Blaming Everyone but Himself for His Gas Crisis

The Ben Shapiro Show

02:08 min | 2 months ago

Biden Is Blaming Everyone but Himself for His Gas Crisis

"According to upstream online dot com, in a letter sent in June to a list of companies including ExxonMobil Chevron Shell, Phillips 66 Marathon Petroleum of BP, Biden chastised the companies. He said at a time of war, historically high refinery profit margins being passed directly onto American families are not acceptable. But Chevron called for policies that underpin continued investment in oil and gas rather than the obstructive approach that Joe Biden has been using thus far. The oil companies then sent a written statement out, they said, we want to underscore the U.S. refineries are running at high utilization rates. Refinery capacity expansion is a long-term proposition given permitting engineering design capital cost estimates and equipment procurement. So the idea that they can just ramp up production is not true. But Joe Biden has to find somebody to blame for his own bad policy. And so, of course, he spent the last several months up to a year blaming everybody but himself. In October of 2021, remember, as of October of 2021, you were already looking at gas prices that were hovering just under three bucks and 50 cents per gallon. And so it already risen by well over a dollar under Joe Biden. At that point, Joe Biden said the gas prices would come down. They did not. Do you have a timeline for gas prices of when do you think they may start coming down? My guess is you'll start to see gas prices come down as we get by going into the winter. I mean, excuse me, in the next year, 2022. Oh, midwinter to the next. Oh. Has that been happening right now? Then Joe Biden blamed OPEC for the high gas prices. This is November of 2021. If you take a look at gas prices and you take a look at oil prices. That is a consequence of thus far. The refusal of Russia or the OPEC nations to pump more oil. Oh, by the way, there's November. That was well before the Ukraine war is blaming OPEC.

Joe Biden Exxonmobil Chevron Shell Marathon Petroleum Biden Chevron Phillips BP Refinery U.S. Opec Russia Ukraine
Unprecedented profit for major oil drillers as prices soared

AP News Radio

00:44 sec | 2 months ago

Unprecedented profit for major oil drillers as prices soared

"As Americans struggle the past few months with high prices at the pump and elsewhere oil companies took in record profits President Biden called out oil companies last month Exxon made more money than God this year Or more money than it's ever made ExxonMobil booked a nearly $18 billion profit in the second quarter with the revenue nearly 50 billion higher than in the same period last year Its CEO attributes the success to investments in oil and gas fields and liquefied natural gas which has been in high demand since Russia's Ukraine invasion Chevron and shell also set profit records last quarter Sagar Meghani Washington

President Biden Exxon Exxonmobil Russia Chevron Shell Sagar Meghani Washington
Experts weigh in on what's causing record-high gas prices across the country

AP News Radio

00:38 sec | 4 months ago

Experts weigh in on what's causing record-high gas prices across the country

"Americans are paying record high gas prices and President Biden is telling oil refiners to take action In a letter to 7 refiners the president calls on them to produce more gas and diesel and work with his administration on near term solutions The president writes Russia's Ukraine war is mainly to blame for high gas prices but he's also essentially accusing refiners of taking advantage noting their profits have tripled Last week he called out ExxonMobil in particular Exxon made more money than God this year The company says it's already told the administration of plans to boost oil producing

President Biden Ukraine Russia Exxonmobil Exxon
"exxonmobil" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:50 min | 8 months ago

"exxonmobil" Discussed on Bloomberg Radio New York

"Is balance of power on Bloomberg TV and radio on Joe Matthew ExxonMobil posting the biggest profit in almost 8 years this morning as the earning parade continues Let's get more right now from Gritty Gupta Pretty interesting here to see ExxonMobil benefiting from a story we talk about a heck of a lot on this broadcast rising oil and gas price Yeah absolutely and not only have they really benefited from that that's something you're seeing across energy companies They're actually boosting some of their investments in those new oil wells Let's put that into comparison with what we've saw from Chevron just last week The idea that some of those longer aged wells actually ate into the profits of their bottom line So you're really seeing Exxon get out in front of it You also are seeing Exxon's free cash flow triple from 2020 So once again speaking to the idea that they're really benefiting from those energy prices UPS also with a big report another story we talk about endless demand for shipping And listen to me and for shipping they hiked up their rates which is actually really helping their bottom line But I think the biggest UPS story which we know is kind of this economic bellwether is that they actually got in front of the labor issue way before not only their peers but the rest of corporate America way ahead of the holidays they said not only are we going to start hiring workers early We're going to do it at a higher wage too So by the time those kind of inventory issues and supply chain issues showed up for other customers UPS was already ahead of it And you can really see how that affected their bottom line and just to really highlight the effect this is having on the market The two biggest index contributors right now are UPS and Exxon Well big move Thank you so much Pretty good though Coming up COVID hospitalizations are dropping nationwide Have we peaked We'll check in with the doctor fighting the pandemic on the front lines This is balance of power on Bloomberg TV and radio.

Bloomberg TV Joe Matthew ExxonMobil Exxon ExxonMobil Chevron America
"exxonmobil" Discussed on The Economist: The Intelligence

The Economist: The Intelligence

07:35 min | 9 months ago

"exxonmobil" Discussed on The Economist: The Intelligence

"I really always loved magic. When I was really young, my grandfather used to pull coins out of my ears and he would show me these amazing things. David Frank studies applied economics at Cornell University in New York. He's been researching the practice of tipping and his long-term love of magic has turned out to be useful. I was a teenager working in a restaurant and I was making tips. And I wanted to see what I can do to increase the size of the tips that I was making. I started reading every single piece of literature that I could find. On the tipping industry and tipping behavior. I found this idea of the norm of reciprocity, which is the idea that by leaving a minimal gift. Waiters in which this can increase the size of their tips. And their study that I read did it with free candy. But I wanted to see if by leaving the signed selected playing card that I just used in the magic routine if that increased my tips. And it did, significantly. And I was beyond excited by these results. I started giving out cards all the time. David and his mentor Michael Lynn of Cornell University have published a study showing that by having a magician perform tricks, tips go up for all the servers, not just the magician. The research should be of particular interest to workers in America where more than half of a server's wages can depend on tips. And it shows that while tipping might seem like a simple economic transaction, it's anything but. Tipping is a really weird practice for economists to think about. So mayor king's is our Britain economic editor. If you think about consumers minimizing their costs, which economists like to assume, then it's strange to think that they will also voluntarily hand over cash after receiving a service. So in many cases, you would leave a tip, even though if you left nothing, that wouldn't affect the service that you just received. So let's pull back from the hard nosed economists view here. It's got to be in part about being grateful for the service you just received. Yeah, gratitude, other fuzzy factors like that seem to matter. There have been studies looking into this. So one study published in 2010 found that 85% of American tippers said that they were following a social norm, 60% said that they were avoiding guilt. If you look at what happened during the pandemic, tipping increased, which looks like it was some sort of compensation for people working and really tough conditions. And then if you look at the evidence on what sorts of factors seem to affect the amount of a tip, it looks like tipping is affected by quite a few things that go beyond what you would normally think of as very specifically the quality of service provided the weather, gender, there was a study looking at Uber drivers that found that female Uber drivers were tipped between ten and 12% more than male ones, although that wasn't the case when they were above the age of 65. But also you have to look at practices across countries. They are hugely different. And so the cultural context is really important. Well, absolutely. It's very clear the difference between, for example, the tipping culture in America and Europe. Absolutely, in America, obviously tipping is a big deal, tips, added to a restaurant meal, so discretionary payments from the customer are often around 20% of the tab, whereas in Europe in lots of European restaurants, customers will just round up the bill by a few Euros. Then you've got Japan, where a tip can be seen as rude that you would even need cash to motivate excellence service. There was one study looking across countries to see whether a stronger tipping culture was correlated with anything that you could measure. So is it the case that societies with the greater tolerance for inequality are more likely to have lots of tipping around? Are the evidences that yes, tipping does seem to be more common when societies have this higher tolerance for inequality and also more masculine values, emphasizing achievement and economic relationships. I do think it would be going too far to say that economics is irrelevant. I mean, tipping is essentially often seen as an incentive to give good service. Does that logic hold up as you say, you shouldn't give a tip for service, you already received, right? The incentive is out of step in time. Yeah, and if you're only meeting somebody once, then it is hard to see how a tip would improve service next time. But even thinking about one shot interactions and performance based pay. For that to work, you would really hope that the pay would be tied to the performance of the individual. So one way of getting this question is tipping related to service is to look at how sensitive tips are to measures of service quality. And it looks like tips are just not very sensitive to service quality at all. There was one study that found that only 5% of the variation in the size of the tip was related to measures of service quality. But in some cultures in some countries and I am thinking of America here, it is kind of central to everyone's kind of arithmetic about how the business is put together. Yeah, and if you think about the economics of why a business would have tipping, then if you compare a tipping model with a model where all of the service is just included in the base price, then a tipping model is a way of drawing and customers. It means that you're upfront prices are going to be lower and then you can extract more at the end of the transaction when it's awkward to pull out. Thinking of other reasons why businesses would want to pay their staff using tips. In some places, tips or taxed, less in other places, it's easy to evade tax. If you have cash tips, it also means that servers incentives are aligned with those of the restaurant. Everyone wants to sell more food, shift more tables if the server is sharing in the upside of more cash going through the restaurant by getting more tips. So in that view tipping is good for employers too. Tipping ease a way of passing risk to employees so as business in America, something between 20 and 60% of servers incomes can be in tips. This uncertainty of how much money they're going to get at the end of the night, that's a big deal. It is worth saying though that in some fancy high end restaurants, tipping is great for servers, but the argument is that it's less great for the back of house stuff, so chefs or dishwashers. It essentially means that 20% of the restaurant's revenue goes to servers. So what about a summary view insofar as one can take one about tipping with your economists hat on is tipping defensible? Tipping is like Marmite, you either love it as an efficient way of aligning incentives, or you hate it as a vehicle of discrimination, something that so is confusion about prices, the increases on certainty for tip recipients, encourages tax evasion. Really the way I look at it is it's about who's in control. Who we think should be in control of pay. Should it be the customer? Should they have this much discretion about how much income people get or would it be better to give a bit more certainty to recipients of services? I think the international experience.

David Frank Cornell University Michael Lynn mayor king America Europe Britain New York David Japan confusion
"exxonmobil" Discussed on The Economist: The Intelligence

The Economist: The Intelligence

08:20 min | 9 months ago

"exxonmobil" Discussed on The Economist: The Intelligence

"Of surprising. ExxonMobil, America's biggest oil company. It's got a pretty checkered history on climate matters from executives that denied the role of fossil fuels and climate change to allegations of disinformation campaigns, which generations of those same executives have denied. But now there does seem to be something of a change of heart going on. We've seen a significant shift on climate change from the most important oil company in the western world, ExxonMobil. One that has actually historically been quite an opponent of action on tackling greenhouse gas emissions. Vijay invites Suarez is our global energy and climate innovation editor. They have just announced I'd policy which aims to get the company to net zero greenhouse gas emissions by 2050. But more importantly, I think they've also taken on concrete targets for absolute levels of greenhouse gas emissions, promising to cut them by roughly 20% by 2030, 30% in their upstream operations, where they make the oil and gas. So these are some concrete targets for the first time from the company, and that does represent a significant shift. And so how to get there? What are they going to have to do to meet those numbers? The company has laid out a plan that's built from the bottom up. It has more than 30 divisions around the world. Each of them will be assigned concrete targets to achieve that 2030 target and they'll be held accountable for their greenhouse gas cuts individually. At most they promise to use carbon offsets that is buying things like nature syncs or other forms of reductions made somewhere else maximum of a few percentage points if needed to reach their final target rather than counting on them for the majority of where they need to get. But you mentioned ExxonMobil's past in terms of its reluctance to get on board with climate change concerns. Is this not just some green washing with some concrete numbers to it? So it's certainly right to be skeptical about announcements made by oil companies claiming to get greener, especially in the case of Exxon, where the company has a history of rubbish and climate science of funding lobbying that undermines efforts to tackle climate change in Washington or Brussels or at the UN process. So lots of companies make airy, fairy promises about net zero and then don't really tell you the details, that's a good way to detect green washing as it's called. I do think that the level of specificity that's unveiled is a good sign and secondly, they've moved off the dime on what they used to do, which is promised greenhouse gas intensity targets to concrete levels of cuts in greenhouse gases. That's a very gee but important distinction because greenhouse gas intensities can be really used as a smokescreen to justify using evermore oil in future as long as you do it. Make it in a little bit less intensive way in the manufacturing of the oil, we can continue happily to be addicted to petroleum. Once you get into the world of reducing overall emissions, I think that actually becomes a lot harder to obfuscate or green wash. And so to your mind, will these specific plans really do enough to lower excellence emissions? There are things missing in Exxon's announcement. It does not include in its promises what energy nerds would call a scope three emissions. That is the emissions that are actually created by you and me burning petrol in our SUVs with an energy source like oil dating to 90% of the greenhouse gases are released by the consumer not during the manufacturing process for the supply chain. Companies like Shell based in Europe are accounting for those and promising to cut back in part by changing their product mix shifting from oil towards gas or towards renewables, Exxon is refused to do that. That's one thing that's missing. They are doing some of this when it comes to methane emissions. They're working with independent third party validators to verify that they are in fact reducing methane, which is a powerful greenhouse gas emissions in their operations. And that's a good sign. But what you're saying is that they're promising to set very concrete targets and have made a very big shift in tone, but ultimately only addressing what amounts to a very small slice of the pie. You're quite right. Unlike some other products or a big share of the energy is consumed upstream. When it comes to petroleum, the lions share overwhelmingly 80% plus of the greenhouse gas harm that's done is when you and I drive in vehicles and burn the petrol. Exxon doesn't control which car that you and I buy or the fuel economy or how often we drive or why you and I chose to use our vehicles instead of walking or taking a bicycle. And so does it make sense to force a company to take account of how products are used? Would you force Procter & Gamble and Unilever to be accountable for how nappies are used or toothpaste? I think it's a defensible point to say they control what is within their own companies operations and let's hold them to account on what they're promising. And let's take ourselves and our governments to task on the policies and personal choices that lead to our preferences. So why do this now, though? I mean, having been unrepentant for all these years has all these other firms have made a very significant commitment and so on Exxon has a decidedly not done so why is it taking what seems to be at least a big change in tone, if not in sort of substance now. So I asked the company and its CEO this question. And the answer was, well, this is not a big new announcement. It's an evolution. We've been on this journey for a long time. And there is something to that in that the company has since 2018 been working on very seriously greenhouse gas intensity targets, figuring out what it can do and wants to promise really only what it can achieve. There's something to that. But I think there's two other factors at work. One is there was a shareholder revolt last May where in a shot heard round the world. Three activist independent directors with a climate focus got elected against management's recommendations. And so they've been pushing the company to go in a greener direction. The second factor is tactical. They have an Analyst Day coming up in a couple of months where they will be trumpeting their tremendous financial success. I think they want to keep the focus on what a fantastic year, it's been and maybe keep some of the controversy that surely will be attracted by any climate policy from Exxon separate from that. So I think the timing is to be a little bit buffered from the financial announcement. So is this a means for exon to do business differently and thereby profit more or simply to sort of tamp down concerns around this stuff? That's really I think at the heart of the dilemma today. Exxon wants you to believe in its investors to believe that this is going to be a profitable energy transition. And when we compare what American oil companies generally, including Exxon are doing, they are not investing in, for example, renewable energy, wind and solar, the way that BP total and to some degree shell and the other European companies are rushing headlong into these green energies. Those tend to be relatively low return businesses. The American companies are instead betting on things like carbon capture and sequestration, clean hydrogen, advanced biofuels, things that fit closer to their traditional businesses. That keeps them out of those low margin businesses. The American companies can't afford that investors are demanding high returns. But here's the dirty little secret. Things like hydrogen carbon capture. They don't have a business model. There's no market willing to pay lots of money for those yet. And so what Exxon explicitly said this week and what other American companies are counting on is support from the government for these things, whether it's through subsidies or low carbon fuel standards or tax credits, the way that the governments have done for electric vehicles and for solar and wind, they're expecting this kind of support to make money. So again, big oil, if it's going to make big profits. Needs big government. Vijay thanks very much for joining us. Thank you. ExxonMobil's pledge comes at an interesting time for the oil industry. Pressure to go green is going up, but so is energy demand. Yesterday, oil prices hit a 7 year high, and last year, it wasn't big tech or finance that did the best in the S&P 500. It was energy. In the coming weeks on our sister show money talks, Vijay will be doing a deep dive on that growing tension. Look for money talks wherever.

Exxon ExxonMobil Vijay Suarez Brussels UN America Procter & Gamble Unilever Washington Shell lions Europe BP
"exxonmobil" Discussed on The Economist: The Intelligence

The Economist: The Intelligence

07:48 min | 9 months ago

"exxonmobil" Discussed on The Economist: The Intelligence

"Net zero emissions commitments are spilling out of businesses and even governments all the time these days, but the latest one is kind of surprising. ExxonMobil, America's biggest oil company. It's got a pretty checkered history on climate matters from executives that denied the role of fossil fuels and climate change to allegations of disinformation campaigns, which generations of those same executives have denied. But now there does seem to be something of a change of heart going on. We've seen a significant shift on climate change from the most important oil company in the western world, ExxonMobil. One that has actually historically been quite an opponent of action on tackling greenhouse gas emissions. Vijay invites Suarez is our global energy and climate innovation editor. They have just announced I'd policy which aims to get the company to net zero greenhouse gas emissions by 2050. But more importantly, I think they've also taken on concrete targets for absolute levels of greenhouse gas emissions, promising to cut them by roughly 20% by 2030, 30% in their upstream operations, where they make the oil and gas. So these are some concrete targets for the first time from the company, and that does represent a significant shift. And so how to get there? What are they going to have to do to meet those numbers? The company has laid out a plan that's built from the bottom up. It has more than 30 divisions around the world. Each of them will be assigned concrete targets to achieve that 2030 target and they'll be held accountable for their greenhouse gas cuts individually. At most they promise to use carbon offsets that is buying things like nature syncs or other forms of reductions made somewhere else maximum of a few percentage points if needed to reach their final target rather than counting on them for the majority of where they need to get. But you mentioned ExxonMobil's past in terms of its reluctance to get on board with climate change concerns. Is this not just some green washing with some concrete numbers to it? So it's certainly right to be skeptical about announcements made by oil companies claiming to get greener, especially in the case of Exxon, where the company has a history of rubbish and climate science of funding lobbying that undermines efforts to tackle climate change in Washington or Brussels or at the UN process. So lots of companies make airy, fairy promises about net zero and then don't really tell you the details, that's a good way to detect green washing as it's called. I do think that the level of specificity that's unveiled is a good sign and secondly, they've moved off the dime on what they used to do, which is promised greenhouse gas intensity targets to concrete levels of cuts in greenhouse gases. That's a very gee but important distinction because greenhouse gas intensities can be really used as a smokescreen to justify using evermore oil in future as long as you do it. Make it in a little bit less intensive way in the manufacturing of the oil, we can continue happily to be addicted to petroleum. Once you get into the world of reducing overall emissions, I think that actually becomes a lot harder to obfuscate or green wash. And so to your mind, will these specific plans really do enough to lower excellence emissions? There are things missing in Exxon's announcement. It does not include in its promises what energy nerds would call a scope three emissions. That is the emissions that are actually created by you and me burning petrol in our SUVs with an energy source like oil dating to 90% of the greenhouse gases are released by the consumer not during the manufacturing process for the supply chain. Companies like Shell based in Europe are accounting for those and promising to cut back in part by changing their product mix shifting from oil towards gas or towards renewables, Exxon is refused to do that. That's one thing that's missing. They are doing some of this when it comes to methane emissions. They're working with independent third party validators to verify that they are in fact reducing methane, which is a powerful greenhouse gas emissions in their operations. And that's a good sign. But what you're saying is that they're promising to set very concrete targets and have made a very big shift in tone, but ultimately only addressing what amounts to a very small slice of the pie. You're quite right. Unlike some other products or a big share of the energy is consumed upstream. When it comes to petroleum, the lions share overwhelmingly 80% plus of the greenhouse gas harm that's done is when you and I drive in vehicles and burn the petrol. Exxon doesn't control which car that you and I buy or the fuel economy or how often we drive or why you and I chose to use our vehicles instead of walking or taking a bicycle. And so does it make sense to force a company to take account of how products are used? Would you force Procter & Gamble and Unilever to be accountable for how nappies are used or toothpaste? I think it's a defensible point to say they control what is within their own companies operations and let's hold them to account on what they're promising. And let's take ourselves and our governments to task on the policies and personal choices that lead to our preferences. So why do this now, though? I mean, having been unrepentant for all these years has all these other firms have made a very significant commitment and so on Exxon has a decidedly not done so why is it taking what seems to be at least a big change in tone, if not in sort of substance now. So I asked the company and its CEO this question. And the answer was, well, this is not a big new announcement. It's an evolution. We've been on this journey for a long time. And there is something to that in that the company has since 2018 been working on very seriously greenhouse gas intensity targets, figuring out what it can do and wants to promise really only what it can achieve. There's something to that. But I think there's two other factors at work. One is there was a shareholder revolt last May where in a shot heard round the world. Three activist independent directors with a climate focus got elected against management's recommendations. And so they've been pushing the company to go in a greener direction. The second factor is tactical. They have an Analyst Day coming up in a couple of months where they will be trumpeting their tremendous financial success. I think they want to keep the focus on what a fantastic year, it's been and maybe keep some of the controversy that surely will be attracted by any climate policy from Exxon separate from that. So I think the timing is to be a little bit buffered from the financial announcement. So is this a means for exon to do business differently and thereby profit more or simply to sort of tamp down concerns around this stuff? That's really I think at the heart of the dilemma today. Exxon wants you to believe in its investors to believe that this is going to be a profitable energy transition. And when we compare what American oil companies generally, including Exxon are doing, they are not investing in, for example, renewable energy, wind and solar, the way that BP total and to some degree shell and the other European companies are rushing headlong into these green energies. Those tend to be relatively low return businesses. The American companies are instead betting on things like carbon capture and sequestration, clean hydrogen, advanced biofuels, things that fit closer to their traditional businesses. That keeps them out of those low margin businesses. The American companies can't afford that investors are demanding high returns. But here's the dirty little secret. Things like hydrogen carbon capture. They don't have a business model. There's no market willing to pay lots of money for those yet. And so what Exxon explicitly said this week and what other American companies are counting on is support from the government for these things, whether it's through subsidies or low carbon fuel standards or tax credits, the way that the governments have done for.

Exxon ExxonMobil Suarez Vijay Brussels America UN Procter & Gamble Washington Unilever Shell lions Europe BP
"exxonmobil" Discussed on The Economist: The Intelligence

The Economist: The Intelligence

01:30 min | 9 months ago

"exxonmobil" Discussed on The Economist: The Intelligence

"Do you need a new year's resolution for your wallet? Getting a better night's sleep has never been more affordable, especially if you overspend on all those online holiday sales and need to tighten the belt on your bank account, with a nectar mattress, prices start at just $499, and you get $399 in accessories thrown in, plus a $100 off, a 365 night home trial and a forever warranty. Go to nectar sleep dot com and join the over 2 million people who are already sleeping on a nectar mattress this year. Hello and welcome to the intelligence from The Economist. I'm your host Jason Palmer. Every weekday we provide a fresh perspective on the events shaping your world. One of the trickiest social norms to navigate away from home is tipping. Is this too much? Too little? Turns out that it confounds economists too. We look into the motivations for the tippers and for the tip and how that affects businesses overall. And now that the saga of Novak Djokovic's will he won't he at the Australian open has been resolved, we take a look at why the Serbian isn't outlier among elite athletes and some surprisingly long run effects that sports stars suffer after COVID-19. But first..

"exxonmobil" Discussed on WCPT 820

WCPT 820

01:34 min | 11 months ago

"exxonmobil" Discussed on WCPT 820

"Vaccines at the reconstruction need countries in the global north are oftentimes hoarding them as well So there is a definitely a huge disparity there Can you talk I mean sing About when ExxonMobil and other companies claim that when you raise these issues you're playing the health card whenever healthcare is discussed at the cop What does playing the healthcare mean Playing the health card means saving lives We are playing the health card because the healthcare is the most important card to play This is the only way to discuss climate change from the health community We have to talk about how things impact people and the health You might be going to actually die sadly as a result of climate change We're looking at 250,000 preventable deaths per year So playing the health card is the most important car that we can play as the desperation that we're facing right now An excellent all these other companies don't want to recognize that They want to belittle the most important aspect of this discussion which is about saving lives about saving people and making sure the people that do this quality lives Not just live lives that are disparaged unhealthy life that they actually deserve to lead as well Talk about medical students organizing around the world a meat Yes so medical students all around the.

ExxonMobil
 US says oil, gas sales damage climate — but won't stop them

AP News Radio

00:47 sec | 1 year ago

US says oil, gas sales damage climate — but won't stop them

"A congressional committee wants to know whether the oil industry concealed evidence about the dangers of climate change the house oversight committee issued subpoenas to chevron shell BP America Exxon Mobil the American petroleum institute and the U. S. chamber of commerce this follows a hearing last week in which top oil executives denied that they deliberately misled the public about the risks of global warming several lawmakers compared last week's hearing to a session with tobacco executives who once famously testified they didn't believe nicotine was addictive the committee's chair Democrat Carolyn Maloney says the companies have not turned over documents they need Republicans on the committee accused Democrats of partisan theater ExxonMobil CEO Darren woods testified that his company's public statements on climate have always been truthful fact based inconsistent with mainstream climate science Jennifer

House Oversight Committee Chevron Shell Bp America Exxon U. S. Chamber Of Commerce Congressional Committee American Petroleum Institute Carolyn Maloney Darren Woods Exxonmobil Jennifer
"exxonmobil" Discussed on WABE 90.1 FM

WABE 90.1 FM

05:01 min | 1 year ago

"exxonmobil" Discussed on WABE 90.1 FM

"Rules including limits on the methane coming from oil and gas rigs and here to talk about how that might work the head of the EPA Michael Reagan Mister Rican welcome Well thank you for having me So methane second worst culprit when it comes to greenhouse gases warming our planet And yet we do hear so much less about it than carbon dioxide Why Why has it taken so long to build a sense of urgency here Well you know the president has had a sense of urgency from day one and asked the EPA to closely examine what we could do with this highly potent greenhouse gas and listen we are excited to announce that we are taking old and aggressive action to tackle climate pollution while protecting overburdened communities by looking at ways to get deep cuts in methane emissions So the message you are putting out there is that this problem is urgent that you want to take bold and aggressive action to use your words I wonder how the oil and natural gas industry responds What are you hearing from them Well you know from day one with this administration we've been transparent about the pursuit of reducing emissions And we've heard from the industry that there needs to be some rules of engagement So we're actually building on the innovation from across the oil and gas industry that will help spur new solutions to reduce pollution using advanced technologies and save on costs Well I'm asking in part because these are proposed rules I was reading a statement from the American petroleum institute That's an oil and gas lobby group ExxonMobil Chevron they are members In their statement they say they're looking forward to working with you quote to help shape a final rule that is effective feasible and designed to encourage further innovation It sounds like they still think there's a lot of wiggle room before you get to a final rule or set of rules is there Well you know this is a proposed rule and we are taking comment on various aspects of how we execute this rule We're taking comment on the types of technologies that we would like to see and that the industry would like to have accessibility to So there is an opportunity for us to continue to build a strong technical record on which technologies are available so that we can get the deep emission cuts that we're looking for So what is the timing here How do you square that with the sense of urgency We're going to move through the proposed phase as quickly as possible We take comment on the rule we will take time to build those comments in and we are looking forward to issuing a final rule very quickly You know there is a sense of year or when are we talking I'm sorry By the end of this year or can you give me some kind of ballpark time for looking at early next year Early next year we will have a final rule that we can move forward that protects the climate but also protects vulnerable communities that are located in close proximity to these oil and gas refineries as well Do you have the teeth at EPA to enforce these rules And I'm asking because the U.S. is of course made promises before to reduce emissions to address climate change The Paris agreement comes to mind And then those promises have been broken Why should other nations trust the U.S. this time EPA has clear statutory authority to pursue rules such as this one And we've been very transparent We've engaged our environmental partners We've engaged the environmental justice community We've engaged in industry And so we've been very transparent about the bold and aggressive action that we're taking And we're taking comment on our approach and like I said we're going to continue to receive feedback really shape this rule so that it is very durable and we're looking forward to having something final next year Just a few seconds left sir But as you know more than 90 countries have signed this global methane pledge Notably absent would be India Russia China some big players here in terms of global pollution How meaningful is this pledge without them on board You know this play is meaningful We are exerting leadership This proposal we have 70% reduction in that day by 2030 just in the United States alone We're going to demonstrate that the technology exists is cost effective in other countries will fall in line That is EPA administrator Michael Regan Thank you so much for your time Good to speak with you Thank you Russians laid to rest today the man known as the face and voice of the USSR Igor Kerala was the chief news anchor for state television during the latter years of the Soviet Union he died last weekend at the age of 89 From Moscow NPR's Charles Maine's has this remembrance For most of the last three decades of the USSR an evening ritual took place in households across the Soviet Union As.

EPA ExxonMobil Chevron Michael Reagan American petroleum institute U.S. Paris Michael Regan Russia Soviet Union India China Charles Maine NPR Moscow
"exxonmobil" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:03 min | 1 year ago

"exxonmobil" Discussed on Bloomberg Radio New York

"Returns over time So to take an example let's take General Motors So Mary Barr has got her great business She's a great CEO She's got a strong board But they can actually make more money if they get to an EV transition faster Longer term Longer term but if you think about it from a scale perspective So what's the what's the multiple of GM today compared to Tesla it's not an example If you can get to an EV transition sooner and you're doing 9 million electric cars a year that's a huge increase in multiple for GM and we get to the climate transition center So yes it takes more than a quarter Yeah But it's the way to do it at scale Hey talk to us about your investing framework and how you think about potential targets Our audience absolutely familiar with what engine number one has done and did earlier this year at ExxonMobil And also of course a General Motors too But how do you think about your next potential targets Yeah we think about it as being active owners and all these companies as opposed to target or old school activism And so what does that mean That means we're running with all the public companies Every single one We run through their wages their workers their social impact and their climate and environmental impact We do it in dollar sense And then we forecast how does that change their evaluation over time And so we will work with both companies that are laggards where we think they're not managing the business as well as they could And we'll do that constructively We won't try to do it The way we did with our Exxon it's better to do it working constructively with companies And so we're working with a number of companies now but behind the scenes We don't talk about that as much Tim was doing you know we're doing some research to share the story with me and we've been following this Dow Jones Had reported that Exxon is debating abandoning some of its biggest oil and gas projects Do you feel like win Well I think first one is get the right people on the board So that was a big victory in getting three people with great energy transition experience Right And the second when we're looking for is what's the long-term capital allocation strategy And if Exxon we're not in the boardroom they're independent directors.

General Motors Mary Barr Tesla ExxonMobil Exxon Dow Jones Tim
"exxonmobil" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:48 min | 1 year ago

"exxonmobil" Discussed on Bloomberg Radio New York

"Term but if you think about it from a scale perspective So what's the what's the multiple of GM today compared to Tesla it's not an example If you can get to an EV transition sooner and you're doing 9 million electric cars a year that's a huge increase in multiple for GM and we get to the climate transition sooner So yes it takes more than a quarter Yeah But it's the way to do it at scale Hey talk to us about your investing framework and how you think about potential targets Our audience absolutely familiar with what engine number one has done and did earlier this year at ExxonMobil And also of course a General Motors too But how do you think about your next potential targets Yeah we think about it as being active owners and all these companies as opposed to target or old school activism And so what does that mean That means we're running with all the public companies Every single one We run through their wages their workers their social impact and their climate and environmental impact We do it in dollar sense And then we forecast how does that change their evaluation over time And so we will work with both companies that are laggards where we think they're not managing the business as well as they could and we'll do that constructively We won't try to do it The way we did with our exon it's better to do it working constructively with companies And so we're working with a number of companies now but behind the scenes We don't talk about that as much Tim was doing you know we're doing some research story with me and we've been following this Dow Jones Had reported that Exxon is debating abandoning some of its biggest oil and gas projects Do you feel like win Well I think first one is get the right people on the board So that was the big victory in getting three people with great energy transition experience Right And the second when we're looking for is what's the long-term capital allocation strategy And if Exxon we're not in the boardroom they're independent.

GM Tesla ExxonMobil Exxon Dow Jones Tim
"exxonmobil" Discussed on News Beat

News Beat

05:43 min | 1 year ago

"exxonmobil" Discussed on News Beat

"The miniatures are here obligations themselves. Who i we have those women of the government. There is no choice. We have to address the situation imaging. So those in power now will godless if they are illegitimate or or not. You know our position. But he's originally Admission to them they are controlling. The they are totally get rid administration is offense on so they are on after cygan you have different sitters in the private sectors including those big you know it networks of of families that al responsible for welby country is versus we have bush. We have dialogue with okay and third the political parties. The political parties are fragmented in haiti. You know you have as many political party as you have aspire a people spying for in brisket. What these do we have. We have to learn to sit down with those actors and third. We have the organization's most of the things that have been done in. Haiti have always been done. We filed haitians themselves without elitists organizations human rights organization. Pisa's organization stood this organization. Sure she's you know all those institutions that are vital for the country. So what can happen. He's for the united nations to create a conduit. I'm not saying for united nations. Go back to hate it. Because i just started. Who exactly what happened if we are expecting that. Initial sale eighty so haiti is already dead. So we are saying that. For united nations to your authority to create the conduit and the united states to use its power at least for one time for good. In order to haiti engage in thought base not to impose eighty what he has to do but to lead hate to do to sit together we need and third. We need those forces or so in those forces that are forces. Would that we call the western. I did our friends of haiti to be better to who provide support for the haitian national quits because we are dealing in haiti with more than one or two than sixty five gangs criminal gangs and point guard gangs in of them arms and police. Easy is so and so weak. Those guys wind up. What is they are not it off. So they needs some support. Who is your support in order for them to do their work to enforce it. Yes additions so those steps out not difficult. But i doubt that they would happen. Why the united states. I election in two years in less than two years. The democrats you know ave fresh adaptation of the of identity biology and haiti's hot potato. They want to give the to begin admissions. So then you know. Does the hagen become a problem for them so up to now. The united states has no scottish english onto hating out to the women. I'm talking they have no such what to do. What the political courage for the biden administration to and then to engage hate the only defend basis. Not sending soldiers engaging. We don't want their just. It's not the point here what we want. We want to import it so we want to have forces..

Haiti al responsible welby united nations Pisa bush united states hagen biden administration
"exxonmobil" Discussed on The Daily Zeitgeist

The Daily Zeitgeist

06:09 min | 1 year ago

"exxonmobil" Discussed on The Daily Zeitgeist

"Come back and talk about the news. Hey miles to me jack I wanted to let you know that this episode of the daily sponsored by better help online therapy okay. It doesn't matter if you're struggling with anxiety or depression need help with relationships or having difficulty meeting your goals online therapy might be for you. It certainly is for me. You might say well. I don't know how do i find it. There is what. How do i find. The time of day better helps makes us very easy. You can start communicating with your therapist and under forty eight hours and all of their therapists have a broad range of so it might not just be something that you can find in your area. Maybe you want something more focused on relationships or other things better help you. I know so. Many people who were like ni- tried therapy. It wasn't for me and it's like you tried. A therapist like there are so many therapists there so many people with different areas of expertise and better help makes it easier to try out and find the one. That's right for you. Yeah i mean to the point that they're committed to facilitating great matches. So it's easy and free to change counselors if needed our listeners. Get ten percent off their first month at better help. Dot com slash. Td's e that's better h. e. l. p. dot com slash. Td's e support for this. Podcast comes from cslr clear if stubborn shower mold. Has you miffed or you're hard pressed to get rid of hard water up. It's high time you kick your so-so cleaning products to the curb. It's time to fight that clean fight with a sealer clear. Family of products seal are clear. Knows there's all kinds of dirty. Which is why they offer products to help you. Take on messes all around your home. So go on and find out that countertop cried square up with those carpets stains co crazy on your garbage disposal gunk. Sealer clear has formulas to help you get the dirty deeds done. Plus many of their products meet the epa safer product standard. So while tough on messes it still the safer choice for your family and the environment show dirt and grime around your home. who's boss with. Cslr clear and fight the clean fight. Learn more about the entire product lineup by going to see are brands dot com. And we're back and yes so greenpeace. Uk put together an investigation where they were posing as recruiters for a lobbying effort for a company. That was a fan of exxonmobil's work. And that's a that's a great setup to get people to just talk shit be like. Hey man like impressed me just like how you do like a start. A documentary like or with about a drug dealer really yellow to did you really. You really moved all those drugs. Like i can't talk about that. I can't man. I the things i've heard. I just heard her epic things like the cia. Said they'd never seen anything like the. Da they were crying. Hearing your name like will you know. Yeah this has been. They use that same tactic again just to reach out to exxonmobil's like main dc lobbyists one who's still at exxon mobil in an official capacity very high up and another that just left in the beginning of the year and again just a couple of compliments and now they're kind of letting you know again the part that most of us can see from the outside pretty clearly as we look at how senators and congress people. You know are motivated. But it's really one thing to hear them talk all this stuff out loud. So i'm gonna play just a quick intro part and then i'm gonna jump ahead to this guy talking so i'll play two parts. And then we can talk on the other side on earth posed as recruitment consultants and told them we had a client who admired their work then. We interviewed them on soon. And ask them to tell us what they in the other lobbyists did. Exxon have been up to. Mobil is so powerful that the management suite. But it's global headquarters is known as the god pod okay. Let's start there talking to the folks over at the god pod cool name. Yeah right. I can't imagine for especially for the one of the you know the largest polluters of our earth that the people in there that it's ref reference to as the god pod. Is this a bad time to say i. I recently took on very lucrative sponsorship. Deal with exxon mobil. Dammit guy really. I gotta get that cash. We were gonna take that. Shell deal okay. So then let's get to the good part which is a few compliments and now they got the loose lips he told us which united states senators the company sought to recruit to their lobbying campaign. And they're not all republicans playing defense because president biden talking about this big infrastructure. And he's gonna pay biting protests highways and bridges. A lot of the negative stuff starts to come out because it's germane. This right is this. That doesn't make any sense for a highway. Bill why would why would. Why would you put in a something. On all emissions reductions climate change to foil refineries in highway crucial while senator capito who's.

exxon mobil depression epa cia Uk Exxon Mobil congress president biden Shell united states Bill senator capito
"exxonmobil" Discussed on The Daily Zeitgeist

The Daily Zeitgeist

07:58 min | 1 year ago

"exxonmobil" Discussed on The Daily Zeitgeist

"My name is jack. O'brien ak zeitgeist day. These guys. what kind of guy host daily guys. A white irish guy guy who says my wife a nerdy man with awkward hands. Even british coal guests study fans host. Zeitgeist dailies i pod that sec courtesy of nfc ericsson and the simpsons. And i'm thrilled to be joined by my co host mr miles shutouts cam debbie god for that one that was shipped to see yet when i pulled up. God's read it. And then you see this shit. In the gulf of mexico i thought godzillas bucking arch nemesis was about to service. Yeah tuck rate. It's not great but yeah. We're we all can empathize with cleveland and pittsburgh and other towns who have lit their local bodies of water on fire now collectively. We have lit the ocean on fire. I'm sure guests. We'll have something to say about whether that his country's followed as much as tears. But i shouldn't have shared song to go ahead and blame all of humanity. Thank god they got it out. Yeah well we are thrilled to be joined. An air third seat by one of the funniest stand ups doing it. A fan favorite on us favorite all the way from new zealand. The hilarious and talented guy. Montgomery fellas please. You embarrassed me before. I even get to my mouth. Good morning jack. Goodbye good morning good morning. Is this a bad time to say that. I've recently taken a lucrative sponsorship from black rifle coffee. now that's kind of part of their sponsorship. Was we had to have you on so say. Yeah but a confusing relationship. We'll have another i. It's it's great to be here and yeah. Yeah obviously we we did. We didn't notice it on a c. Bid but we have heard reports to the russians on fire ryan and on the one hand. This is a devastating environmental disaster but on the other hand. It's pretty impressive. Pretty cool right. Not not your to get on fire. I guess they've tried to do that out the backyard. But oh yeah constantly. When i was a kid and just spraying the surface with a like lubricants and whatever an incredible amount of you know reckless lewis dedication to truly that baby blitzen. I mean that's one of the great things about capitalism there like all limits. You have ocean on fire on your car. We did do it guy. What's new with you. You are in winter where you are. Correct in windsor. And as i said it. Sort of opposites willed here so it's cold and it gets doc early Those are two of the main features of noticing. What else is what else is new with me. I'll call dozen zealand. Get not as cold as america. Yeah we head up with. We had a polo blast rates and and oakland which is gonna sub-tropical vision of sub-tropical climates the largest must know than city addenda to of two degrees celsius icon translation of fahrenheit. I will say can't fade them your insistence of sticking with fahrenheit. We got such a good system running down here. Whereas zeros frozen. Yeah yeah and one hundred zero healing cars to what's happening. Yeah to is like thirty six degrees just you know. I just close my reasoning for who is to thirty two But yet and but for the saudi coat we had a poll a blasted but the one of the coldest stretches of june on record and new zealand. I'm very recently but you'll be pleased to hear that did not manage to put a dent in us. It will saving the warmest. June on record a really yeah. I was listening to national broadcast you sedan. I seem to think that was ju- to whoa is cycles. And also the entire planet constantly hating up again. You're welcome we are. We're don't We're really doing you know. Rule abbott are doing windows open. A to heat is crank in baby. Yeah i mean. People should have known better when we refuse to go with a celsius and the metric system wasn't gonna go well. The the precursor to people not wanting vaccines. Yeah and leading the ocean on fire. We didn't see the red flags that on this. Yeah fucker they talking thirty. They make good tv. We'll stick with them for a while the simpsons you know all right guy. We are going to get to know you a little bit better. In a moment. I tell our listeners. A couple of things. We're talking about today. Hey speaking of the ocean being on fire. Exxon mobil lobbyists basically dimed out there. Senate friends there is a undercover investigation from greenpeace. Uk and we got to hear them speak unguarded ungodly about about how things actually work. When when they're not on the record we are going to talk about where we're at with vaccination. We basically missed the goal for vaccinations by just about republicans. Yeah so by that chunk of people we'll talk about net flicks are they waning. Or what is the future of net flicks While also talk about the present tense of netflix which Too hot to handle is trending in the top five. It's back baby all that plenty more but first guy. We like to ask our guest. What is something from your search history. That's revealing about who you are. You love to us that question. I do love it. And frankly i lived to answer it i. The most recent switch in my sich history is was float tank namie oakland which has turned out to be outside the in a place called flight culture and eden terrace. They're not paying for this mention guy. Better people chasing but lucrative greenback during the pandemic times. I and say not long. After this record reps out. I'm going to go and lie down and salty enclosed body of water for and see if that is relaxing reading. I mean i've i've heard about it. I really want to try it because as a kid. I remember being in the bathtub and i would kind of do the version where i just kind of put my just my ears underneath the surface and just always be like this is so weird and try and like i don't know i. I didn't know about meditating. Then but i guess i was doing some form of it with that so when i hear about flow tanks and how you know the buoyancy essentially makes it feel you completely sort of begin to separate your physical and mental and have that sensation. I've been really interested in going. But i have not done you. Well a man that is exactly my shit. So i'm gonna go and.

mr miles jack nfc new zealand gulf of mexico sec pittsburgh cleveland Montgomery oakland windsor ryan lewis zealand Exxon mobil america greenpeace Senate
A Tiny Fund Scores Historic Win in Battle Against ExxonMobil

Marketplace with Kai Ryssdal

00:39 sec | 1 year ago

A Tiny Fund Scores Historic Win in Battle Against ExxonMobil

"Energy leads the way kinda surprising. News out of exxonmobil's annual shareholder meeting today ticker symbol x. Oh by the way turns out a hedge fund a relatively small a hedge fund called number one which holds a very small slice of exxon mobil. Stock has convinced some other much bigger shareholders that they should put a couple of engine number one's candidates on that company's board of directors candidates that would and this is the important part force exxon to cut back on its fossil fuel strategy and investments. And do more about climate change. It sounds insanitary. I suppose a little bit of corporate governance but it is a very big

Exxonmobil Exxon
ExxonMobil racks up a third straight loss as pandemic dents demand

News, Traffic and Weather

00:20 sec | 2 years ago

ExxonMobil racks up a third straight loss as pandemic dents demand

"Mobil reported its third consecutive quarter of losses as the global pandemic curtails, traveling cripples global economic activity. Energy giant on Friday Post of a $680 million third quarter loss and revenue tumbled $46.2 billion string of losses and what could be a money losing years. New territory for Exxon Mobil. We

Exxon Mobil Mobil
"exxonmobil" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

05:58 min | 2 years ago

"exxonmobil" Discussed on Bloomberg Radio New York

"Another week to two weeks. So this is where action right now is really going to be important. It doesn't have to be a complete lock down like we had before, but we should be using the data that word that the testing is giving us that the contact tracing is giving us To provide much more targeted interventions to slow the spread of the virus. And the Johns Hopkins Bloomberg School of Public Health is supported by Michael R. Bloomberg, founder of Bloomberg LP. And Bloomberg Philanthropies. Again, recapping stocks closed the lows of the day with the S and P down 69 points. A drop of 2.1%. I'm Charlie Pellet. Bring on the song of the day. That's a blue bird business Flash favorite time. Thank you so much, Charlie Pellet. You are listening to Bloomberg. Is this? Um Oh, yeah, There's like a million minds. Million names of becoming a mind. Well, letters. Think what letters? Weathers letters? Yeah. Powerful, Weathers tells you a C D. C nicely done really good song. Well done because you're talking about Exxon Mobil. Yeah. How it's in a sense back in black. I mean, it just goes to show you how crazy 2020 has been. In that, you know you had this company Exxon Mobil biggest US oil producer. Once the world's largest company by market value, and you go back about 2.5 weeks, you see that it fell below. The value of zoom video communications. You know that video conferencing company we all referred as I am for this and that and the other thing. They've only been public for about 18 months. And yes, Zoom became more valuable than Exxon. Or if you want to turn it on its head. Exxon became west valuable. Isn't that while can you stop there for a second? That's just wild. Dave. Isn't it though, Right? Changing times, But I don't know. Yeah. What else is wild is that the equation reversed itself yesterday. After Exxon came out and said they were going to cut 15% of the global workforce. Yeah, so Actually, Exxon became more value Bowl as of yesterday's post. Just AH, couple $100 million. Basically, today, the gap has widened out, so it's not going to be just a one day phenomenon is, it Turns out I heard Charlie Pellet talking about how ExxonMobil's lower on today by 1.7%. But even with that It's got a market value of $137 billion Zoom has taken a real hit along with a whole lot of other tech companies. As you've been talking about, it's down 6.4% as we speak. And just to get an updated figure on their market value is just above 130 billion, so the gap which was like it's a few $100 million yesterday, is Knows closer. The seven billion today I mean these things to go back and forth no questions, but it just goes to show you you know, like I was saying earlier. Old economy, new economy. We don't talk in those terms anymore because it's like, you know, the tech companies have become so large is like they are the economy for a whole lot of people at this point. But you know, Exxon been around for decades and various corporate configurations, you might say And you know, it's value is just kind of shrivel, but passed several years we'll think about changing fortunes, right? I mean, First of all, fracking. I mean, we've just had so much Maurin terms of supply on lately the demand equation because of the pandemic. And just even the economy things have, you know, fallen back, So it's not a great scenario for you know for them at all. And then on top of that, you think about the whole shift toward electric cars, Exactly, you know, promoted by Tesla's Supported certainly by GM Ford and a whole lot of other automakers. So you things are not going their way and you know is we're all stuck at home. We want to see other people. So we signed up resume and we take part in the video conferences and you know demand is just off the charts. In any case. Speaking of charts If you want to see this chart, Yeah, and the explanation that goes with it and all my future charts, you could send me an email at the Wilson at Bloomberg dot net. That's Di Wilson at Bloomberg dot net. You can have a Dave chart Appaloosa if you want you could. Can I just tell you? I just went to the FAA page on Zoom. I mean, just because you there you're talking about $100 billion market cap. I mean, this is a company that is expected to have, I think Two point 4,000,000,002 2.0.4 billion in revenues, and it's got 100 billion market cap, and I have increasingly, including talking about 55 times. Sales. Yeah, it's just it's pretty wild. And increasingly, I'm having conversations with people who like I'm done. I'm done with ease like I'm tired of having them So you know, it's just something to think about because we are wondering what the lasting impact Of that will be post pandemic, You know? So you do wonder, and that plays into what their business might be after we get through this. Oh, absolutely. I mean, you really don't know what this company is going to be, You know, 234 years down the line when we're backto whatever passes for normal, then it's going to be a very different environment for us in general and for zoo in particular. Sorry. Definitely check out Dave Chart of the day. He's going to back a bit later on with his stock of the day. All right, let's get backto Older.

Exxon Exxon Mobil Bloomberg LP Charlie Pellet Johns Hopkins Bloomberg School Bloomberg Philanthropies Michael R. Bloomberg Dave Chart Weathers Di Wilson founder US FAA Tesla GM Ford
"exxonmobil" Discussed on KOA 850 AM

KOA 850 AM

02:12 min | 2 years ago

"exxonmobil" Discussed on KOA 850 AM

"Timberg Withy State Health Department says it's an anonymous service between two phones, iPhones and android phone support the free contact tracing service. Zeta is now a post tropical system. But while it was a hurricane it his way for killing three people in Louisiana ExxonMobil is going to make major cuts to its workforce, the North Texas based oil and gas giant says. Is planning to lay off 1900 workers in the U. S mostly in Houston. Management positions are the ones believed to be on the chopping block and talk about a comeback. Three time World Series champion manager Tony LaRussa is returning to where it all started. The Chicago White Sox naming LaRussa their next skipper. He is 76 years old, a Texas woman is being told to remove her stripper seemed Halloween display. But she says no. Angela Nava got a letter from her H away, saying a sighting complaints that the decorations were inappropriate and offensively positioned. She created an outdoor strip club with pole dancing skeletons. She says it's fun to change their positions and most neighbours drive by nightly to see what the dancers are doing. She was given 30 days to take down the display, which falls well after Halloween. Our next news updates at three o'clock I'm Susan within on K Away news radio. A 50 am in 90 for one FM. Check on traffic, Quick, Quick. Morgan from Fred's Force Traffic Center. Good news. They got that crashed out of the way of south bound to 25 25. No delays. Through that stretch now lays downtown, though due to a stall on South 25 Colfax salad back up back to the I 70 interchange, and still those delays around the 2 70 I 70 interchanged with roadwork on west on to 70 Approaching York backups onto I 70 and back it up west on. I 70 through the interchange, You'll start seeing those brake lights right about Havana, Fox 31 pinpoint weather mostly sunny with a high of 66. Clear tonight. Low 30 Sunny and 60 tomorrow right now. 66 degrees of DHEA. This report sponsored by Audible now on, I'll give you more than ever before with a premium selection of best sellers and new releases was thousands of included audiobooks, podcast originals and more to listen to all you.

Angela Nava Tony LaRussa ExxonMobil Chicago White Sox Withy State Health Department Zeta Louisiana North Texas Texas Force Traffic Center Audible Houston Havana York Morgan Fred
Dallas-Based Exxon Denies President Trump Called CEO For Money

The Afternoon News with Kitty O'Neal

00:35 sec | 2 years ago

Dallas-Based Exxon Denies President Trump Called CEO For Money

"Needs. Exxon Mobil is making sure people know President Trump has not asked their CEO for money KFBK Sarah Bartlett has the story. The Texas based energy giant says it's aware of a comment made by the president at an Arizona rally, where he claimed that he could get every major company head to give money to his campaign. If he wanted Teo. He used Exxon Mobil as an example, the company says no such talk has ever happened, according to the Dallas Morning News. ExxonMobil's corporate pack has not given cash to any presidential can It it this election cycle. Sarah Bartlett News 93.1

Exxon Mobil President Trump Sarah Bartlett TEO Dallas Morning News CEO Arizona Texas
Exxon on hypothetical Trump call: "It never happened"

Bloomberg Daybreak

00:27 sec | 2 years ago

Exxon on hypothetical Trump call: "It never happened"

"ExxonMobil is taking a rare step. Responding to political remarks from President Trump, the president called out Exxon at a rally, saying hypothetically he could trade permits needed by Exxon for $25 million contribution. He went on to say he wouldn't do that. But some on social media took him seriously, which led Exxon to respond on Twitter. The company says it never spoke with the president about a campaign contribution, posting quote. Just so we're clear it never

Exxon President Trump Donald Trump Exxonmobil Twitter
ExxonMobil To Simplify Oil Extraction By Cutting Earth In Half

The Topical

01:06 min | 2 years ago

ExxonMobil To Simplify Oil Extraction By Cutting Earth In Half

"Well, it's no secret drilling for oil is dirty business and his natural deposits are used up companies have taken to drilling even deeper than before and in more dangerous locations seeking untapped reserves but that may soon change as Exxon. Mobil. Announced this week their plan to simplify oil extraction by simply cutting the earth and half here with more as OPR's. Carbon correspondent Rebecca Neal Hi Leslie Exxon Mobil spokesperson Todd McNamara told reporters at a press conference yesterday about the company's new initiative to cleave the earth into two separate pieces and drain out the crude oil hidden inside the plan they say, will have minimal environmental impact and provide Americans with affordable clean fuel. So. Think of the earth is like a really round EG, and on the inside of the Shell is the egg white or oil, and the yoke is lava and stuff. But that part's important we intend to score the earth all the way around like with an egg topper and then tap it with a chisel. This will split the planet into two pieces giving Exxon mobile access to all that we petroleum goodness buried inside

Exxon Leslie Exxon Mobil OPR Todd Mcnamara Rebecca Neal
ExxonMobil To Simplify Oil Extraction By Cutting Earth In Half

The Topical

01:06 min | 2 years ago

ExxonMobil To Simplify Oil Extraction By Cutting Earth In Half

"Well, it's no secret drilling for oil is dirty business and his natural deposits are used up companies have taken to drilling even deeper than before and in more dangerous locations seeking untapped reserves but that may soon change as Exxon. Mobil. Announced this week their plan to simplify oil extraction by simply cutting the earth and half here with more as OPR's. Carbon correspondent Rebecca Neal Hi Leslie Exxon Mobil spokesperson Todd McNamara told reporters at a press conference yesterday about the company's new initiative to cleave the earth into two separate pieces and drain out the crude oil hidden inside the plan they say, will have minimal environmental impact and provide Americans with affordable clean fuel. So. Think of the earth is like a really round EG, and on the inside of the Shell is the egg white or oil, and the yoke is lava and stuff. But that part's important we intend to score the earth all the way around like with an egg topper and then tap it with a chisel. This will split the planet into two pieces giving Exxon mobile access to all that we petroleum goodness buried inside

Exxon Leslie Exxon Mobil OPR Todd Mcnamara Rebecca Neal
Oil giants lost billions as pandemic crushed demand for fuel

Balance of Power

01:58 min | 2 years ago

Oil giants lost billions as pandemic crushed demand for fuel

"It is all about oil companies. They're losing billions on the 12 punch of both over supply and pandemic. Demand drops both Exxon Mobil and Chevron earnings Well, they reflect that our own scarlet fu is here with more Scarlett. What were some of your key takeaways? Around some of these oil giants reporting and just the losses that they're reporting. It was a pretty ugly day for big oil. You know, there was a time when Exxon Mobil was the most valuable company in the S and P 500. Those days are long gone. And if you look at Exxon Mobil today in its market cap, it is worth 1/10. Of what Apple is worth, and I bring this up because both Apple and Exxon Mobil reported earnings over the last 24 hours, and ExxonMobil's results look very different from what we heard from apple. Okay. So example one Chevron. They both had this integrated business model that is meant to protect them. No matter of oil prices rise or fall, So that means for the upstream business, they have oil exploration and production. I also have a downstream side. The business which is refining and chemical units in the second quarter, however, you can see production got hit because of lower oil prices, and the refining and chemical units also got hit because of lower demand for things like jet fuel, gasoline and plastic wrap that uses oil as a raw material, and in fact This is stunning. Exxon Mobil generated zero cash from operating activities in the second quarter. This is a massive company, and it generated zero cash from his operating activities. All that resulting in some pretty steep losses exam over reported a $610 million loss in the first quarter and even bigger loss in the second quarter. There are $1.1 billion Look at Chevron's numbers $8.3 billion deficit in the second quarter. That is two times the amount it made in the year ago period. And by the way, Chevron also wrote down a lot of its assets at $5.7 billion in oil and gas assets. I mean, these numbers are so big it just I had to look at it. A couple of times three or four

Exxon Mobil Chevron Apple Scarlett
Jeff Bezos’ Fortune Ballooned by $13 Billion in One-Day Record Increase

WTOP 24 Hour News

00:23 sec | 2 years ago

Jeff Bezos’ Fortune Ballooned by $13 Billion in One-Day Record Increase

"Added $13 billion to his net worth yesterday, making him worth more than the market valuation of ExxonMobil. Nike and McDonald's yesterday was the largest single day networth increase for an individual. 56 year old Bezos has seen his fortune swells $74 billion so far this year. Despite the US entering its worst economic downturn since the Great Depression,

Bezos Exxonmobil Nike Mcdonald United States
"exxonmobil" Discussed on News 96.5 WDBO

News 96.5 WDBO

02:46 min | 2 years ago

"exxonmobil" Discussed on News 96.5 WDBO

"Just kind of goes without saying that the clothes just make sure you clean your bro all really well and let me tell you I came up against the a while ago but I was used in a brass brush to clean the grill you know gold rush and I didn't notice that a piece of broken all and not only stayed on the grill but got on some of the meat and it actually made it to my daughter's plate and she picked it out like that I don't know so you know everyone just kind of be careful by making that I'm in the habit of doing it now is I'll take the the grill brush and all scrubbed the girl really well after it's heated up a little bit yeah and then okay he okay I take actually some paper towels and I pulled them into a square and I went back and I'll take that out back on the grill and then use the glove box the burglar clean it all up and make sure that it didn't leave any other wrestled you should always have a new brush every season as well but definitely just just as an FYI because I I've never even heard of that happening before so start out with a clean bill but even before that and the reason I was quick to notice because everyone's going to go and you know have the hopefully they'll be a lot of nice Memorial Day our service is been gathering this weekend and we can remember our veterans he served the country past present and future but get they'll be a bunch of people that are growing and every time I go to formal titles and walks you know because the man's grill in his domain right if you come over to my house I doubt it I'm gonna do to grow my goal because someone else without you know a man's grill with his domain so I don't I don't bother with people's personal but I might urge to give them tips all the time on what they should or shouldn't do when they're growing and if they just aren't me crazy to watch some people drop by and bad listening to that my father knows exactly what I'm talking about now we'll talk about some of the details of it after the break but even before you get to the cleaning the grill or you need to make sure that you need and whatever you're cooking the seasoning well don't put a lot of ExxonMobil benefactor there's great dry rub recipes mom had tried bails me where there is a great a great mandate the use that we kind of have the all marinade around here but there's a great rock that you can use all state or all we do pork.

ExxonMobil
ExxonMobil cuts 2020 capex budget by 30% as it works to combat low oil price, weaker demand

Rush Limbaugh

00:28 sec | 2 years ago

ExxonMobil cuts 2020 capex budget by 30% as it works to combat low oil price, weaker demand

"Story Exxon Mobil making a massive spending cuts due to market fluctuations the oil and gas giant said it would reduce capital spending to twenty three billion dollars instead of the originally planned thirty three billion company still planning to meet its twenty billion dollar investment though on the U. S. Gulf coast as part of its growing the Gulf initiative and Exxon Mobil is also working on creating reusable face masks and shields to help protect people from corona virus snickering commits newsradio seven forty

Exxon Mobil U. S. Gulf Gulf
"exxonmobil" Discussed on C-SPAN Radio

C-SPAN Radio

01:44 min | 2 years ago

"exxonmobil" Discussed on C-SPAN Radio

"Supply exploration on Saturday yeah right look at your life going to the oil meeting previously is the US willing to cut domestic oil production what came out of the meeting was a concern a lot of things came out it's a great industry is an important industry to tremendous job producing industry and it's just vital and it was also a very interesting because they all were given the test before they came into the room so you have the head of ExxonMobil you have all these guys taking the test and they all passed with flying colors colors so that was good they left happy that respectively is this just an over abundance of well right now oil and gas tremendous over abundance and it was because they were doing a great job they were producing a lot of energy but then you have the virus come along and it knocked another thirty five percent maybe forty percent off of the market so there's too much oil is it a lot and these a great companies and they'll figure it out free market will figure it out he spoke to president what's on the table here they were having a competition we'll see how it all works out I think it's going to work out very well it's gonna take a long time to to get rid of that this this massive excess amount of oil and gas massive like probably there's never been somewhere that does work out well I guess you could say is for drivers I think in certain locations it's down to ninety and ninety five cents a gallon right down the road but we have a a tremendous industry a great industry tremendously important industry from the standpoint of jobs and we're energy independent we have to make sure we keep it that way all right place because I don't think.

US ExxonMobil president
"exxonmobil" Discussed on KGO 810

KGO 810

02:02 min | 2 years ago

"exxonmobil" Discussed on KGO 810

"Supply exploration on Saturday yeah right look at you and point to the oil meeting previously is the U. S. willing to cut domestic oil production what came out of the meeting was a concern things came out it's a great industry it's an important industry to tremendous job producing industry image is vital and it was also very interesting because they all were given the test before they came into the room so you have the head of ExxonMobil you have all these guys taking the test and they all passed with flying colors colors so that was good they left happy in that respect at least this just an over abundance of well right now oil and gas tremendous over abundance and it was because they were doing a great job they were producing a lot of energy but then you had the virus come along and it knocked another thirty five percent maybe forty percent off of the market so there's too much oil is it a lot and that is a great companies and they'll figure it out free market will figure it out he spoke to president what's on the table here presto they were having a competition we'll see how it all works out I think it's going to work out very well it's gonna take a long time to to get rid of that it is massive excess amount of oil and gas massive like probably there's never been so with that does work out well I guess you could say is for drivers I think in certain locations it's down to ninety and ninety five cents a gallon right down the road but we have a a tremendous industry a great industry it's tremendously important industry from the standpoint of jobs and we're energy independent we have to make sure we keep it that way all right please I don't think that's what is wrong in this situation to address the source of much of life now it's just a way to use the restrictions on certain donors including getting out for our part of the accident for three months.

ExxonMobil president
Fire erupts at ExxonMobil refinery in Louisiana; no injuries reported

America's Truckin' Network

01:05 min | 2 years ago

Fire erupts at ExxonMobil refinery in Louisiana; no injuries reported

"Yeah the story on a baton Rouge it was a a fire at an Exxon Mobil refinery they turn the night's guy shade of orange a fire erupted about eleven thirty Tuesday night no injuries reported the fire was contained they say to the location where it started but the glow could be seen from miles away Exxon Mobil the largest manufacturing employer in Louisiana and that baton Rouge refinery the the fifth largest in the country producing gasoline jet fuel and more paint adhesives at the chemical plant let's see the company said in a tweet they were responding to the situation including monitoring the air quality of the air outside the plant no particular older they said there are no offsite impact according to a spokesperson from the fire department so it was again contained to the area where it occurred so is it could have been a whole lot worse

Exxon Mobil Louisiana Baton Rouge
Imperial Oil ignored its own findings on climate change decades ago

The Big Story

11:42 min | 2 years ago

Imperial Oil ignored its own findings on climate change decades ago

"The effects of climate change are being witnessed all over the world. It's the biggest story right. Now there are downright apocalyptic take images coming out of Australia right now. The country's battling hundreds of fires that burned across the country for months now roads and villages turned into rivers overnight right and tens of thousands displaced many areas in central and southern Somalia have been completely caught off and people here are now in urgent. Need aide Greenland's is sheets is the biggest in the northern hemisphere and it's in meltdown. All of this is a warning sign for the while. We hear it all the time. This is a dire situation. Time is running out. It's a crisis. Makes you wonder if we knew what we know now. Old decades ago could we have done something to stop. The devastation. Could much of what we're seeing today been reversed in the troubling answer is probably doubly. Yes in fact. Some people did know what was happening. As far back as the nineteen sixties major fossil fuel companies are alleged to have known about Science and worse that they were contributing one major Canadian company in particular its own research and ignored the findings and as we hear from our guest today. Imperial Oil Royal Coulda changed its business. Model could have been a leader to fight climate change but instead just decided to make bigger profit often. I'm Richard Southern Jordan Heath Rawlings. This is the big story. Berta Hussein is a writer at the intercept joins us now Heimer Taza. How good thank you interesting article? One that I think is going to the real eye opener for a lot of people. Maybe anger a lot of people first off. It's really centering around a company that we use here in Canada a lot whether we know it or not tell us what is his imperial oil. Who are they so imperial oil is the Canadian subsidiary of Exxonmobil? The famous Fossil fuel company. It's best known in Canada. Zal at the consumer level for esso-brand gas stations. So imperial is essentially Exxon's arm in Canada and Essel is its most prominent consumer manifestation. Yeah they're everywhere you know but a tiger in your tank bright and you're saying going back to what the nineteen sixties imperial oil knew about the dangers of climate change. What exactly did they know back then? Murtaza well in the nineteen sixties the specific contours of the problem. With coming into view. They will not definite about climate. Change percents at that time but they knew that they were causing serious harm to the environment and they knew that this would eventually lead to a public outcry cry. If Canadians became aware of the full scope. The heart they were causing annual this time. You think of things like air quality polity destruction of habitat destruction of ecosystems. It was only in the later decades by the nineties. They were very very sure are about the science of climate change. We're talking maybe. Almost three decades ago they had come to a high degree of certainty about the impacts of climate change. Despite that knowledge they did not change their behavior and in fact did whatever they could to prevent the public from reaching the same level certainty. EG about the issue that they have what did they do to sway public opinion away from what they knew was the fact that climate change was real and that they were participating ended. What did they do to sway public opinion? Well over a decade imperial has been very concerned about possibility of public backlash and particularly particularly if that backlash led to calls for regulation up their activities or the imposition of climate or environmental regulation but somehow impacted their ability to carry out their operations. So going back to the sixties and then onwards from there are they attempted to do their own public relations campaigns to sway public opinion to Muddy the waters over their own environmental record and to push back against any organized attempt to curtail their activities but it wasn't just Pr. It was also surveillance of non-governmental organizations in Canada local ones like the Canadian Arctic Commission and other consumer advocacy groups to go on the offensive against these people even though they were much smaller than imperial oil oil of course much smaller than Exxon Mobil. What do you mean surveillance where they fled following people around? Was the documents show that they were compiling dossiers on environmental loops in Canada information about their key spokes people their finances their addresses so documents. Give us some insight into do the type that could carry out until two or they did they. Certainly it was on the table for them. Did they do anything. Imperial oil to try. Try and mitigate climate change. I mean you write in your article that a a PR company analyze different ways that the company could reduce its carbon footprint. Do they do anything well in the early nineties you know. Many many decades ago now they essentially knew that for society to avoid the catastrophic this traffic impacts of climate change. It would need to move from fossil fuel extraction to renewables techniques like carbon capture. Many the things that we've discussed today is being necessary to avert the climate prices but the thing is right this knowledge they did not twenty significant degree agreed change their operation. They continued to extract at the same levels and even higher levels year over year this day. They did not engage in the fundamental structural changes that they needed to to avert this crisis but one thing that they did do and I think this quite telling is that they changed the design their own platform in the Arctic and elsewhere to accommodate the fact of rising sea levels and melting sea ice. So they knew this is real soul strongly that they changed their own platform designed to accommodate that but they did not embark on the structural changes. Their business models would have been necessary. And it's even more unfortunate. Because if they had them that they would have had a first mover advantage and renewable energy. You talk about the the Arctic you mentioned in your article and this may be one of the more shocking things is that they looked imperial looked at the the melting sea ice as a new business opportunity for them right right so essentially imperial and other fossil fuel companies day for a very long time had the best climate climate research capacity is any organizations in the world they knew very intimately impacts of change around the world atmosphere here and in the Arctic and now they developed capacities partly for the reasons I mentioned earlier because they were concerned about public backlash over their environmental. I mental record. They wanted to get as good a pictures possible but what they also did was that the this usage capacity which had offensively developed to you know hopefully reduce environmental harm or get a better picture of it also to scope out new business opportunities that may emerge in it radically. Did you date environment. They said hey the fact that there's less CIA is going to allow us to go up further into the Arctic and drill for more oil right more or less maybe more technical language but you just if it was that the fate of Arctic Sea ice will determine how imperial operates right another another interesting thing to with imperial oil was how they saw carbon taxing coming many years ago and how they were how they were sure that that would actually mitigate mitigate some of the climate change of facts right what what did they say about carbon pricing. All those years ago well they knew that carbon pricing would be necessary. She would use fossil fuel emissions but they essentially low ball the numbers the new. That's a much higher number of needed even many decades but they made proposals which were arts private private knowledge and essentially you know we would have probably taxes through which we do need need. Do we need to be much much higher than you would. He needs to be several decades. When imperial and other companies had essentially deceived? The public was imperial. Oil's response to all this. You ask them for response to these documents. You got about all the knowledge they had one of these say. Well you know one thing that I This article is very important that they knew these things privately but for many years thereafter. CEO's if imperial were saying doing things in public when she concluded odds with their own private use and affiliate odds with the consensus of climate change mainly in the late nineties. You know imperial. You see Yo- Roller Peterson was saying that carbon dioxide. It's good for your I'm in started pollutant. There's no consensus about this issue. All and you know essentially open to debate internally do not open to debate very serious and very real so you know response In the light of this it was just that they take seriously and committed to doing what the cans move with the climate crisis. And you know the the thing is not revert. This crisis is businesses usual. Something's GonNa Change. It should've changed three decades ago four decades ago but if it does not radically change now you don't have to prepare for very ugly future in which the vast majority of people many Canadians are going to suffer grievously. Should we be shocked by this. I I mean you know. The cigarette companies knew there product caused cancer. I guess the you know the candy companies. Probably new sugar wasn't very good for people but they kept selling it. This is what Capitalism demands should we be singling energy companies. Like it'd be real oil out. Aren't they just doing what. Capitalism demands of them the difference between the tobacco industry and big sugar and fossil fuel industry. Is that the consequences of these. Allies are much much sh greater than other basic consumer products and. That's not to say that the impact is tobacco and sugar on Health Canadians and others not been grievous what we're talking about eventually an existential threat to industrial civilization Industry Association. We may we now have a planet anymore on which even make future mistakes or to rectify current mistakes. That's why it's really really far more serious than those other phenomena. All those were also serious. Now we're talking about something that we've never experienced before human beings have never done anything anything on such a scale as what they've now begun to

Canada Arctic Exxon Mobil Somalia Greenland Australia Exxon Richard Southern Arctic Sea Essel Berta Hussein Canadian Arctic Commission ZAL Jordan Heath Rawlings
Saudi Aramco oil to enter stock market.

THE NEWS with Anthony Davis

06:07 min | 3 years ago

Saudi Aramco oil to enter stock market.

"Coming up on five minute news Saudi Aramco oil to enter stock market judge blocks trump rule requiring prospective respective immigrants to have health insurance and Brexit party leader Nigel Faraj will not run in UK election and it's Sunday November three I'm Anthony Davis the Saudi Arabia's giant state oil company finally kick-started its initial public offering today announcing its intention to float on the domestic boss in what could be the world's biggest listing as the kingdom seeks to diversify its economy away from oil but in its long-awaited announcement assessment Aramco the world's most profitable company offered few specifics on the number of shares to be sold pricing all the date for launch bankers have told the Saudi government that investors will likely value the company around one point five trillion dollars below the two trillion dollar valuation touted by Crown Prince Wants Mohammed bin Salman when he first floated the idea of an IPO nearly four years ago the IPO is designed to turbo charge Prince Muhammed ambitious just economic reform agenda by raising billions to build non energy industries and diversify revenue streams confirmation of the sale of shares in the oil giant whose formal name is Saudi Arabian Oil Co. comes about seven weeks after the crippling attacks on its oil facilities underlining Saudi Arabia's determination to push on with the listing regardless Aramco accounted for about one in every eight barrels of crude oil produced globally from in two thousand sixteen to two thousand eighteen it said today it's net income for the third quarter of two thousand nineteen amounted to twenty one point one billion billion dollars dwarfing the income for the same period for oil giants like ExxonMobil which was just over three billion dollars a federal judge in Oregon yesterday temporarily blocked trump administration proclamation the would have required prospective emigrants to prove they would have health insurance within thirty days of their arrival or enough money to pay the reasonably foreseeable able medical costs judge Michael Simon in US District Court in Portland Oregon granted a twenty eight day temporary restraining order that prevents the rule from taking king effect today the legal challenge against it will continue in an eighteen page order Simon said the potential damage to would be immigrants and their families he's justified in nationwide block facing a likely risk of being separated from their family members and a delay in obtaining a visa to which family members this would otherwise be entitled is irreparable harm he wrote prospective immigrants have been scrambling to figure out how to get the necessary coverage navigating complex healthcare bureaucracy that has for the most part not previously catered to those who are not yet in the country the trump proclamation said it aims who's to stop healthcare providers and taxpayers from bearing substantial costs in paying for medical expenses incurred by people who lack health insurance prince or the ability to pay for their healthcare it cited data that lawful immigrants or about three times more likely than US citizens to lack health insurance Lawrence healthcare policy experts say immigrants use the US system less often than Americans according to an analysis by Leighton coup who director of the Center for Health Policy Research at George Washington University recent immigrants without insurance accounted for less than one tenth of one percent of US medical expenditure in two thousand seventeen Nigel farrage the leader leader of Britain's up Stop Brexit Potty said today he would not stand in next month's general election choosing instead to campaign countrywide against since the UK Prime Minister Boris Johnson's e you divorce deal Farraj an anti you campaigner who stood for parliament unsuccessfully seven times times setup the brexit party earlier this year and swiftly won the most votes in Britain in European elections in May he's announcement this week that the party not would contest every seat on December twelve election was seen as a potential setback for Boris Johnson it risk splitting the vote of brexit supporters in an election that will once again pit those who want to leave the European Union against those who want to stay more than three years after Britain voted to quit the block in a referendum Johnson who wants to win a new mandate to enact his divorce deal with the block said he had ruled out a pact with every other party because it would only any make more likely that opposition Labor leader. Jeremy Corbyn would become Prime Minister Johnson's conservatives are leading in the polls but the country still starkly walkway divided over brexit. The outcome is highly unpredictable. You subscribe to five minute news with your favorite podcast APP Oscar snot speaker or enable five minute news as your Amazon Alexa Flash briefing skill we'll follow us on twitter at Five Min News five minute. News is an independent production covering politics inequality health and climate delivering honest verified

Saudi Aramco Jeremy Corbyn Prime Minister Johnson Five Min News Twitter Oscar Amazon Five Minute One Billion Billion Dollars Five Trillion Dollars Three Billion Dollars Two Trillion Dollar Twenty Eight Day Eight Barrels One Percent Seven Weeks Thirty Days Three Years