(Bloomberg) -- Exxon Mobil Corp. CEO Darren Woods called the spending bill agreed to by Senate Majority Leader Charles Schumer and West Virginia Senator Joe Manchin “a step in the right direction.”
“We’re pleased with the broader recognition that a more comprehensive set of solutions” is needed to go through the energy transition, Woods said on a conference call with analysts Friday after Exxon reported earnings.
The CEO said he was happy that oil and gas feature prominently in the bill, and that it’s not exclusively focused on solar and wind. He added that he hasn’t yet gone through the details.
In prepared remarks accompanying Friday’s earnings release, Woods said the US needs “clear and consistent” policy that promotes the country’s resource development.
“This policy could include regular and predictable lease sales, as well as streamlined regulatory approvals and support for infrastructure such as pipelines,” he said.
The Manchin-Schumer climate and energy pact did include several things likely on Exxon’s wish list, such as locking in lease sales, and even pairing renewable rights to oil and gas lease sales.
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