An interesting private international corporation is ExxonMobil. Its headquarters are in Irving, Texas. Exxon Mobil Company is the world’s largest energy corporation discovering and producing crude oil and natural gas. The corporation operates in more than two hundred countries. Exxon Mobil is the world’s largest manufacturing corporation of petroleum worldwide. It transports as well as sells natural gas, crude oil, and oil by-products. Besides, the company markets as well as refine chemicals and is also interested in power generation services. So, the company plays a crucial role in shaping energy policies in the U.S. For this reason, it is necessary to analyze and discuss ExxonMobil Corporation as an attractive private firm in U.S. energy policy, its size, lobbying efforts to energy interest, and contributions towards political campaigns.
ExxonMobil Overview
ExxonMobil Corporation was formed by the union of two companies, Exxon and Mobil, in 1999. The company is one of the largest corporations by revenue and publicly traded through market capitalization. ExxonMobil provides access to proven assets of approximately 21.9 billion, which is oil equivalent barrels and is the highest in the oil industry. On average, daily, the company generates a million barrels of oil. ExxonMobil owes a substantial part of its achievement to the Standard Oil Company and its predecessors.
Exxon Mobil Interests in Energy Policy
In the contemporary world, there is a search for ways that can help minimize emissions. The organization’s interest in energy policy in the U.S. revolves around upholding a favorable regulated and legislated environment. So right energy policies can help the world to have a favorable controlled environment. The organization has supported energy policies that promote a free market and emphasize using reliable or affordable energy. According to Bricker and Justice (p.531, 2022), Exxon Mobil’s policy and advocacy promote energy security as well as emission reductions. The organization supports the policy solutions, which are a growing necessity for reliable, affordable energy and incentive investments to lower emission technology advancement and implementation. Exxon Mobil also has advocated for balanced rules that encourage domestic energy use and address environmental concerns. The U.S. government support and technology advancements quicken lower emission technologies crucial for achieving lower emissions. Thus, it promotes Exxon Mobil’s interest in the energy policy of maintaining a favorable and regulated environment.
Exxon Mobil’s interests in energy policy are demonstrated in its lobbying efforts, public statement, and support for a favorable environment. The organization’s lobbying efforts and activities mainly emphasize emission regulation, offshore drilling, and creating favorable climate and taxation plans. Besides, Exxon Mobil is investing billions to lower greenhouse gas emissions. The significant accelerated efforts of reducing greenhouse gas emissions from the operated facilities. In addition, the organization is capturing and storing carbon emitted. Carbon capture and storage are crucial as it helps in reaching net zero. Additionally, Exxon Mobil is working to generate renewable diesel from biofuels and hydrogen. Renewable fuel is crucial as it helps in reducing carbon emissions. Furthermore, Exxon Mobil is working and supporting the development of new technologies, which will significantly lower production expenses. All the activities used by Exxon Mobil suggest the priority of ensuring that legislative measures do not hinder organizations’ operations or profitability.
Exxon Mobil Lobbying Efforts
Exxon Mobil Corporation is known to engage in lobbying efforts in the U.S. at the federal and state levels. The lobbying is mainly to advocate for its position on the matters that impact the energy organization and industry (Santos et al., p.75, 2022). Exxon Mobil represents the interest of its customers, staff, stakeholders, and community in public policy debates. The organization has a rigorous process of determining the public policy matters crucial to people and Exxon Mobil. The process comprises lobbying inputs for internal operations. The corporation also engages with a wide range of activities of third parties to ensure that external views are considered.
Exxon Mobil also contributes to political campaigns.
The Exxon Mobil board of directors encourages political contributions to political organizations and candidate committees. The organization’s support of political organizations and candidates reflects the corporate interest, not any officer, staff, or independent directors. The corporation’s pollical contributions and sponsored political actions are reviewed by the board of directors yearly and regularly verified during the corporate internal audits. In the 2022 elections, Exxon Mobil contributed money supporting five national political organizations, state-level candidates, and committees in U.S. states (ExxonMobil). The political contribution provides insights into the organization’s favored policy direction. The political contribution also shows the position of candidates who share theoretical perspectives on energy regulations.
Exxon Mobil Goals
Exxon Mobil is dedicated to environmental stewardship and technological innovation to address climate change. The organization shows support for research and development in technologies that lower carbon. Besides, the organization has invested in advanced biofuels, carbon capture, and storage projects. Nonetheless, critics claim that there is a misarrangement between the organization’s public statement and its actions. There are instances where the organization is pointed out as having restrained climate change hazards and sponsored climate-denying companies. These controversies have raised questions about the organization’s dedication to addressing environmental matters.
Conclusion
Overall, Exxon Mobil is among the largest energy sector shareholders worldwide. The organization has an interest in the U.S. energy policy. The organization emphasizes favorable environment and lobby efforts to promote and maintain a profitable and regulated environment. But critics claim that are instances where Exxon Mobil restrained climate change threats and sponsored climate-denying companies. Some of these arguments have raised questions about the organization’s honesty in addressing environmental matters.
Work Cited
Bricker, Brett, and Jacob Justice. “Identifying and Challenging Greenwashing through Conciliatio.” Western Journal of Communication 86.4 (2022): 521-540. doi.org/10.1080/10570314.2022.2087893
“Political Contributions | Policy.” ExxonMobil, corporate.exxonmobil.com/who-we-are/policy/political-contributions.
Santos, Filipe Duarte, Paulo Lopes Ferreira, and Jiesper Strandsbjerg Tristan Pedersen. “The climate change challenge: A review of the barriers and solutions to deliver a Paris solution.” Climate 10.5 (2022): 75. doi.org/10.3390/cli10050075
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