07:23:17 EDT Tue 22 Oct 2024
Enter Symbol
or Name
USA
CA



Exxon Mobil CDR (CAD Hedged)
Symbol XOM
Shares Issued 1,400,000
Close 2024-06-13 C$ 20.77
Market Cap C$ 29,078,000
Recent Sedar Documents

Globe/wire say Exxon Mobil, rivals aim to block EV push

2024-06-14 07:23 ET - In the News

Also In the News (C-CHEV) Chevron CDR (CAD Hedged)

The Globe and Mail reports in its Friday, June 14, edition that Exxon Mobil and Chevron say they are filing a federal lawsuit to block the Biden administration's efforts to reduce emissions from cars and light trucks, and to promote electric vehicle manufacturing. A Reuters dispatch to The Globe reports that the U.S. Environmental Protection Agency issued new tailpipe emission rules in March that will force the nation's automakers to produce and sell more electric vehicles to meet the new standards. Under the rule, the administration projects up to 56 per cent of all car sales will be electric between 2030 and 2032. The American Petroleum Institute (API) says the EPA has exceeded its congressional authority with a regulation that will eliminate most new gas cars and traditional hybrids from the U.S. market in less than a decade. API general counsel Ryan Meyers said, "Today, we are taking action to protect American consumers, U.S. manufacturing workers and our nation's hard-won energy security from this intrusive government mandate." The lawsuit will be filed in the D.C. Circuit Court of Appeals. The National Corn Growers Association and the American Farm Bureau Federation will join API as co-petitioners.

© 2024 Canjex Publishing Ltd. All rights reserved.