ExxonMobil CEO Darren Woods said Europe will begin to lose energy imports as new strict methane regulations come into effect in 2027. Woods is one of many critics of the European Union's Corporate Sustainability Due Diligence Directive. The regulation is a broad set of regulatory measures requiring companies to develop net zero emissions plans and extends the requirements to companies outside of Europe throughout the global supply chain. Woods said that according to current regulations, no enterprise in the energy industry can meet the requirements of this law. Woods said, “They're continuing to reinforce some really bad policies. We've been trying to explain — especially at a time when global product supply is currently in short supply, and the EU is not particularly short of products — policies should promote trade openness so that you can access as many resources as possible, rather than continue to try to limit supply.”

ExxonMobil CEO Darren Woods said Europe will begin to lose energy imports as new strict methane regulations come into effect in 2027. Woods is one of many critics of the European Union's Corporate Sustainability Due Diligence Directive. The regulation is a broad set of regulatory measures requiring companies to develop net zero emissions plans and extends the requirements to companies outside of Europe throughout the global supply chain. Woods said that according to current regulations, no enterprise in the energy industry can meet the requirements of this law. Woods said, “They're continuing to reinforce some really bad policies. We've been trying to explain — especially at a time when global product supply is currently in short supply, and the EU is not particularly short of products — policies should promote trade openness so that you can access as many resources as possible, rather than continue to try to limit supply.”