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Exxon Has a Message for Europe: Don’t Mess With Oil and Gas

CEO Woods says the continent’s ‘punitive’ measures against fossil fuels are prompting majors to reconsider — and relocate — their investments.

Darren Woods, chairman and chief executive officer of Exxon Mobil Corp., sends Europe a message at the 2023 CERAWeek by S&P Global conference in Houston.

Darren Woods, chairman and chief executive officer of Exxon Mobil Corp., sends Europe a message at the 2023 CERAWeek by S&P Global conference in Houston.

Photographer: F. Carter Smith/Bloomberg
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Hello and welcome to Elements, Bloomberg’s energy and commodity newsletter. This week, we’re coming to you from CERAWeek in Houston, probably the most important energy gathering of the year. We’re bringing you all the news from a cast that includes the leaders of most of the largest energy producers and senior oil ministers. Here’s a recap of Tuesday’s top stories. Today, Senior Reporter Kevin Crowley unpacks the reasoning behind Exxon’s criticism of European energy policy. To get all the news from CERAWeek and beyond, click here.

Exxon Mobil Corp. Chief Executive Officer Darren Woods used his prime-time address at the CERAWeek by S&P Global conference in Houston to criticize European energy policy, which in his view has gone too far.