ExxonMobil’s Record Profit, EV Price Wars, & Thwarting the ‘Texas Two-Step’ 01/31/23

Squawk Pod

Jan 31, 2023•32 min

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Episode description

ExxonMobil reported a record breaking $55.7B profit for 2022. CEO Darren Woods discusses the results and global oil policy, and warns that gas prices will rise again, while demand and supply are light. Ford and Tesla have slashed prices to remain competitive in the burgeoning electric vehicle landscape; WSJ reporter Tim Higgins explains the EV price wars and the road ahead for each player. Plus, the Biden administration is cracking down on Medicare private plans, and a U.S. appeals court has thwarted Johnson & Johnson’s strategy for handling its talc lawsuits, a plan known as the ‘Texas two-step.’

In this episode:

Darren Woods, @exxonmobil

Tim Higgins, @timkhiggins

Becky Quick @BeckyQuick

Andrew Ross Sorkin, @andrewrsorkin

Katie Kramer, @Kramer_Katie

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