Report Oct. 24, 2018
ExxonMobil supports active and informed participation in the political process, and we believe that sound public policy is best achieved when a variety of stakeholders are involved.
Report Oct. 24, 2018
Our approach to policy engagement
We are aware that public policy decisions made at all levels of government can have significant effects on our current and future operations. For these reasons, ExxonMobil exercises its right to support policies that promote a stable investment climate for long-term business viability and to communicate our positions to the U.S. Congress, state legislatures and governments around the world.
ExxonMobil engages with governments to provide information and insights on policies that can affect our business. A complete list of federal issues lobbied by ExxonMobil in the United States in 2017 can be found in the public disclosure section of the U.S. Senate website. In 2017, ExxonMobil reported lobbying expenses in the United States totaling $11.4 million in our public Lobby Disclosures Act filings.
Performance and initiatives
ExxonMobil engaged on several issues in 2017 to support responsible economic, energy and environmental policies. Our positions on a few key issues in the United States are described below:
- Energy infrastructure: Congress and the White House have pledged to modernize American infrastructure. Building pipelines, roads and other energy infrastructure to keep pace with growing production and an expanding economy could support more than 1 million jobs each year on average through 2035. Eighty-one percent of American voters support expanding U.S. energy infrastructure. ExxonMobil does as well.
- Expanding energy access: Substantial energy resources in offshore areas hold the potential to generate hundreds of thousands of jobs and lead to production gains of more than a million barrels of oil equivalent per day. ExxonMobil supports policy efforts to expand opportunities for safe energy development in new offshore areas.
- Tax policy: The federal tax reform legislation that passed in 2017 reduces the corporate income tax rate and enables the energy industry to remain competitive in the global marketplace. ExxonMobil actively engaged to promote the legislation because of the significant impact tax policy has on American competitiveness, future investments and job growth.
- Free market policies: Natural gas is now the leading source for U.S. electricity generation, as its reliability, affordability and environmental benefits have made it a fuel of choice for power plant operators. Proposals to alter electricity markets in ways that favor some fuel sources over others could disrupt free-market competition and negatively impact consumers. ExxonMobil is committed to ensuring a level playing field in energy markets and to protecting consumers’ interests in affordable, reliable and safe energy for homes and businesses.
- Regulatory reform: The U.S. regulatory process contributes to setting important standards in society. ExxonMobil supports legislation that enhances the transparency, accountability and objectivity of regulatory processes to improve public safety and minimize economic cost.
- Trade: The freedom to import and export goods and services benefits Americans in the form of more choices, additional value, more economic wealth and better paying jobs. As a global company, ExxonMobil relies on free and fair trade agreements and policies, which include strong protections such as Investor State Dispute Settlement provisions. Those provisions serve to protect the long-term investments we make across the world, and help to facilitate effective supply chains and the efficient movement of capital, people, information and products, including crude oil and natural gas.
The board of directors has authorized ExxonMobil to make political contributions to candidate committees and other political organizations as permitted by applicable laws in the United States and Canada.
The political contributions of the corporation, as well as the contributions from the company-sponsored political action committee, are reviewed with the board of directors annually and are routinely verified during internal audits of the corporation’s public and government affairs activities. Eligible employees and retiree shareholders may participate in the U.S. political process by contributing to a voluntary, company-sponsored, federal political action committee. Political action committee contributions are reported monthly to the U.S. Federal Election Commission.
Performance and initiatives
In 2017, we contributed over $210,000 to state candidates and caucuses in 10 U.S. states. Corporate political contributions are subject to an internal review process that requires approval from the chairman. Learn more about political contributions and lobbying section.