“Assuming that current pricing continues, we would expect to be moving into a U.S. tax paying position this year with payments beginning quarterly starting this quarter, in the second quarter.”

In context

“given the Shell acquisition and obviously Concho, what is your current deferred tax position in the U.S.? When do you expect to see full cash taxes there? And my second question, if I may, is a big picture question for Ryan. Ryan, there's been 2 things came out, I guess, climate-related recently. One is the proposal from the SEC on climate disclosure and the second is the API's suggestion of a carbon tax. I'm just wondering if you could offer Conoco's perspective on those issues, please. Ryan Lance: Great. I'll let Bill talk about the cash tax, and then I can address the last part. But I would say, Tim is not leaving us, Doug. We look forward to his continued involvement in all the key decisions in the company. So -- but let me turn it back to Bill first. William Bullock: Yes. Sure, Doug. Assuming that current pricing continues, we would expect to be moving into a U.S. tax paying position this year with payments beginning quarterly starting this quarter, in the second quarter. Of course, the amounts and timing are going to vary depending on pricing and other market conditions, but we do expect to return to a cash tax paying position this year and starting to make estimated payments in this quarter. Ryan Lance: And with respect to your last part, Doug, certainly, we're all kind of reviewing in quite a bit of detail what the current climate suggestions that have come out of the SEC in the rule-making process. We'll be commenting on that as part of industry as well. They're a bit problematic. I mean, we said all along, we're supportive of doing everything a company can do on Scope 1 and Scope 2 reductions as a company. And we came out with our ambition to be Paris aligned and net zero by 2050 with respect to the emissions that we produce as a company. And all comp”