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  "documentTitle": "Engine No. 1 | Activist Presentation Deck | 83 slides",
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  "notes": "Uses a stacked bar chart to illustrate the 'carbon tax cost increase' on gas generation compared to battery storage adders for renewables.",
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      "text": "Levelized Cost of Electricity Generation in the US ($/MWh)",
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      "text": "A meaningful cost on carbon would likely make natural gas-based power more expensive than battery-backed solar and wind as early as 2024, and would dramatically limit natural gas demand growth, ~40% of which is used for power, which ExxonMobil assumes to be a growth driver",
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      "text": "Meaningful carbon capture would have a similar impact, as the only way to pay for it would be a charge on carbon or trillions of dollars in government incentives",
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      "text": "Chart Source: IEA World Energy Outlook 2020. “Storage adder” are 4-Hour Battery Storage costs at 25% of nameplate solar capacity, as per NextEra’s ‘Edison Electric Institute Conference’ presentation, Nov. 2020. Carbon Tax estimates for combined cycle power plant based on a 7,000 MMBtu/MWh heat rate.",
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      "kind": "title",
      "text": "Despite claimed support, ExxonMobil's long-term strategy leaves it entirely unprepared for an actual carbon tax",
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