Exxon Shares Post Second Largest Gain Since 2023 After DOGE Seeks To Cut Clean Energy Projects
Shares of Exxon had their 2nd largest pop since the regional banking crisis of 2023 (second only to last week’s record surge) after the Wall Street Journal reported that the Energy Department is eyeing steep cuts that could wipe out nearly $10 billion in clean-energy funding, jeopardizing major projects with Exxon Mobil and Occidental Petroleum.
Or, as the market appears to see it, a cost saving measure for the likes of Exxon, who will no longer have to endeavor to spend on low-margin “green” businesses.
Internal memos show the cuts would scrap government contracts tied to hydrogen, carbon capture, and energy storage, with thousands of DOE jobs on the chopping block. Part of President Trump’s broader push to slash federal spending, the move is driven by the Department of Government Efficiency (DOGE), led by adviser Elon Musk. The agency has already axed numerous contracts and federal jobs.
The $10 billion figure spans two DOE offices and reflects broader DOGE-driven cancellations under review, according to the Wall Street Journal report.
“No final decisions have been made and multiple plans are still being considered,” a DOE spokeswoman said.
The Energy Department, responsible for everything from nuclear weapons oversight to energy R&D, is weighing steep funding cuts, including pulling support from four hydrogen hubs in Democratic-leaning states, while continuing to fund three in GOP-leaning regions. Over 250 clean-tech projects—spanning EV charging, solar, wind, and more—could be scrapped.
The report says that roughly 9,000 of the department’s 17,500 jobs are deemed essential. More than 1,200 employees have resigned or been sidelined—many tied to diversity efforts. Another round of buyouts is underway.
Federal grants and loans have largely been frozen since February, when Trump halted funding tied to Biden-era laws, including the Inflation Reduction Act—legislation he’s criticized as the “green new scam.”
Only a few projects, such as Michigan’s Palisades nuclear plant, have received funding.
Jigar Shah, former head of the DOE’s Loan Programs Office, warned this risks driving clean-tech investment overseas: “That just makes me so sad… now they’re receiving the opposite message.”
Tyler Durden Thu, 04/17/2025 – 13:40
Source: https://freedombunker.com/2025/04/17/exxon-shares-post-second-largest-gain-since-2023-after-doge-seeks-to-cut-clean-energy-projects/
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
LION'S MANE PRODUCT
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.
| Online: | |
| Visits: | 1,690,063,559 |
| Stories: | 8,398,016 |
Whistler Blowers, Insiders
