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ExxonMobil's Baytown hydrogen project has been paused following the U.S. government's decision to terminate $11.26 billion in clean energy funding, including a $331.9 million grant for the project. This decision is linked to federal policy shifts, such as the U.S. withdrawal from the Paris Agreement and cuts to clean energy tax incentives, which have also led major financial institutions to exit net-zero commitments. The International Energy Agency has revised its energy outlook, predicting that fossil fuels will still represent 60% of global energy production by 2050 amid rising power demands.