Lower emission alternatives which is part of the climate related policy discussions around the world. Exxon focuses on practical policy solutions that recognize the increasing demand for affordable and reliable energy while enabling the deployment of lower and zero greenhouse gas emission technologies as per the Paris -Agreement goals. Being one of the largest oil producers in the world the company estimate greenhouse gas (GHG) associated with its petroleum products sales in 2020 totaled 650 million tons, greater than any other western oil company and similar to the GHG emissions.

 

U.S Environmental Protection Agency (EPA) regulates the lowering of gas emissions here in the U.S for organizations such as Exxon and works hand in hand with other international partners to reduce the environmental impacts of the rapidly increasing international trade via air, sea and land, causing environmental challenges such as climate change. It collaborates with global and bilateral partners to promote sustainable development, protect vulnerable populations, facilitate commerce and engage diplomatically around the world.

Organization of the Petroleum Exporting Countries (OPEC) actively manages oil production in its member countries by setting production targets that influence world oil supplies and prices. The U.S. is not a member of the OPEC which means that the country has control over its own production, setting rates and supply without any interference from the organization. The decisions made by these OPEC countries however impact oil producing countries such as Exxon here in the U.S. A recent example is lowering of production by the giant Saudi Arabia in 2022, which had President Biden travel to Saudi Arabia to request for an increase in production of oil to help curb the gas prices. In such scenarios Exxon and other oil and gas companies win big because when the supply is subdued around the world, the U.S output is boosted.

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