ExxonMobil becomes the new title partner of the Albuquerque International Balloon Fiesta

Starting next year, the renowned Albuquerque International Balloon Fiesta will operate under a new title sponsor: ExxonMobil. The new sponsorship agreement will take effect in 2025 and run until 2029. The event will henceforth be named ExxonMobil Albuquerque International Balloon Fiesta, as the energy company has been the sole presenting sponsor since 2022. Before this role, ExxonMobil was a regular supporter of the festival for three years. According to Bart Cahir, Senior Vice President at ExxonMobil, the company is excited to deepen the partnership. He emphasized the event's significance both for the residents of New Mexico and the company's employees on-site, viewing the title sponsorship as an opportunity to enhance the global visibility of the event. Tom Garrity, spokesperson for the Balloon Fiesta, highlighted that while sponsors do not influence the program, they provide essential financial and logistical support. Unfortunately, the contents of the contract, including financial aspects, remain confidential. The annual balloon festival generates over $200 million for Albuquerque, and ExxonMobil's tax and levy burden in New Mexico reached nearly $1 billion in 2022. Cahir stressed that ExxonMobil is committed to promoting sustainable energy forms while reducing emissions. Despite the positive outlook, there are also critical voices. The oil and gas industry is often associated with environmental pollution, and a pending lawsuit accuses the state of New Mexico in this matter. ExxonMobil has set a goal to be climate neutral by 2030. The company is increasingly investing in technologies like carbon capture and storage, as well as the development of hydrogen technologies. Cahir emphasized the company's scientifically-driven responsibility in these areas and praised the sustainability initiatives in New Mexico. However, at the sight of the rising balloons, it became evident how omnipresent Exxon's energy products are—from the materials of the balloons to the propane used.