The big new Exxon Mobil climate change deal that got an assist from Joe Biden

Read the full story from CNBC.

Exxon’s carbon capture and sequestration deal with CF Industries and Enlink Midstream in Louisiana could be significant for the future of Big Oil’s low-carbon business. One key: tax incentives included in the Inflation Reduction Act passed in August. Environmental critics say the new law just subsidizes an expensive technology, but Exxon says deal will be the first of many from a large backlog that is “starting to move quickly” and that the Biden climate plan has helped to catalyze.

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