Big Oil

Big Oil to Trump: We want global pollution regulations

Smokestacks with red tape on them
Rebecca Zisser / Axios

America’s largest oil-industry groups are launching a new coalition to lobby in support of new global standards that tighten air pollution regulations for shipping fuel.

Why it matters: This is a classic example of business using regulation to gain a competitive edge over others. Many of America’s oil and refining companies have been anticipating these rules — set a decade ago by an arm of the United Nations that oversees maritime issues — and moving toward low-sulfur kinds of diesel fuel.

Exxon mulling investing in electric-vehicle charging

Exxon gas station
Photo: Kena Betancur/VIEWpress/Corbis via Getty Images

ExxonMobil Corp. is actively considering whether to invest in electric-charging stations, according to an Atlantic Council report published this week.

Why it matters: Most other international oil and gas companies have at least token investments in electric-charging infrastructure, but Exxon has been an outlier among its peers in this space. Exxon's possible change of heart reflects Big Oil’s recognition that the world is transitioning away (albeit slowly) from oil-powered cars as part of a broader shift in the energy industry's response to climate change.

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