NEWS

European leaders looking to tackle climate change should look to US policy and “let the market work” to avoid driving companies away with prescriptive regulations, Exxon Mobil Corp. Chief Executive Officer Darren Woods said.

“I think it’s a huge mistake to be picking winners and losers and focusing on specific technologies,” Woods told the CEO Norway’s Wealth Fund, Nicolai Tangen, on his podcast. “Instead we should be looking more broadly at letting the markets figure out which solutions provide the most emissions reductions for the lowest cost.”

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