Exxon Mobil Corp. may abandon a major low-carbon hydrogen project in Houston if the Biden administration does not extend tax incentives to natural gas-derived "blue" hydrogen facilities. CEO Darren Woods emphasized the importance of technology neutrality in addressing emissions reduction, advocating for a level playing field between "green" and "blue" hydrogen in receiving government support. Woods appreciates the Inflation Reduction Act's broader approach to climate solutions but stresses the need for a comprehensive strategy and transparent carbon accounting to achieve net-zero emissions by 2050.
Read more here: https://www.worldoil.com/news/2024/3/20/exxonmobil-ceo-won-t-proceed-with-hydrogen-project-without-biden-s-ira-tax-credits/