Chevron Corp Virtual Energy Transition Spotlight Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Paul Cheng - Scotiabank Global Banking and Markets, Research Division - Analyst : So I have to apologize first because I have some connection issues. So you may have already answered the questions. If yes, please let me know. When we're looking at higher return, lower carbon, that slogan -- and can you give us -- because the nature of the business in your $10 billion investment is different than your traditional projects, how the return profile or that how the criteria? Is there any difference in how you look at those businesses and how you judge whether this is a good business? So that's the first question. Trying to understand that, is that when you're looking at those $10 billion investment from a return criteria, are they different than or how do they differ than when you're looking at what is more important and different? The second one is that when we're looking at the renewable diesel business, everyone seems like just going into that. The barrier of entry is close to 0. As long as you have money, you can build a renewable diesel plant. We have recently conducted an exercise, and what we find is quite alarming that, not even mentioned that you guys joined the view a lot of new renewable diesel capacity. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. SEPTEMBER 14, 2021 / 2:00PM, CVX.N - Chevron Corp Virtual Energy Transition Spotlight Just on the existing plant, seems like we're going to have a major problem with the feedstock. And also the LCFS credit probably going to become oversupplied and that margin is going to come down a lot. So how are you going to safeguard on that?