Gasoline Prices and Fuel Discounts from Exxon’s Perspective
Exxon Mobile’s CEO Darren Woods doesn’t think much of fuel discounts: falling prices stimulate demand, and that’s exactly what they don’t want to achieve. A little tutoring in the basics of economics for politics…
“If you make gasoline and diesel cheaper, there’s a risk that low prices will bring higher demand. And the problem we have in the industry is the scarce supply. The last thing we want to do is stimulate additional demand.”
– Daren Woods, CEO and Chairman of the oil and gas conglomerate Exxon Mobile, in “The problem is the scarce supply” – Exxon Mobile’s CEO expects gas and oil prices not to fall quickly and doesn’t think much of gasoline debates. He does not see renewable energies as part of his future strategy.” Handelsblatt, Topic of the Day, Page 4, June 29, 2022, No. 123
