An Inside Look at Exxon’s White House Push to Subsidize Hydrogen From Gas
- Campaign seeks to influence how the IRA rules are hashed out
- Company memo lays out plan to target ‘key decision makers’
The pegasus horse logo at an Exxon Mobil Corp. gas station in Cherry Valley, Illinois, US.
Photographer: Daniel Acker/Bloomberg
Exxon Mobil Corp. is lobbying the Biden administration to allow hydrogen made from natural gas to qualify for some of the most lucrative subsidies available in the President Joe Biden’s signature climate law, pushing for billions of dollars in tax credits intended to help phase out fossil fuels.
The company is targeting “key decision makers” in Washington including Democratic lawmakers, US Treasury Department officials and think tanks, according to an internal memo seen by Bloomberg. Exxon is stepping up efforts to ensure that what it dubs as low-carbon natural gas is “properly recognized“ by the Biden administration, the memo said.