ExxonMobil and biofuels

Questions from the audience include Exxon’s take on biofuels.
ExxonMobil doesn’t have much expertise in agriculture, the foundation of the biofuels business, Tillerson said.
“I don’t have a lot of technology I can add to moonshine,” Tillerson joked, but he was quick to say he wasn’t trivializing the industry.
In the U.S. we shouldn’t “get ourselves into this wishful thinking can just grow crops and get ourselves into a new world,” he said.
“There is a low hurdle of entry to biofuels today,” with plenty of venture capital available, but Exxon doesn’t see what it could add to that effort today.
Rather, ExxonMobil is focusing on the next generation of biofuels, working with Stanford University on research for forms of fuel that require less energy to create.