Enviromental Concerns - Tuesday, July 17, 2007 7:49 - 0 Comments

Exxon Mobil Refuses to Act on Global Warming

Apparently, ExxonMobil Corp. still doesn’t believe that global warming is a serious problem, or at least the oil giant doesn’t act like it is. Recently, the company reiterated its position that creating far-reaching policies to reduce harmful greenhouse gas emissions is important, but premature. This statement came as a number of shareholders jumped on the company for what they said was “an irresponsible and even dangerous environmental stance.” The world’s largest publicly-traded oil company was criticized by a number of the persons attending its annual shareholder meeting. A number of environmentally-minded investors and shareholder activists asked the company to set quantitative goals for reducing greenhouse gas emissions and to commit to greater investment in renewable sources of energy. Instead, Chairman and Chief Executive Rex Tillerson continued to insist the prudent strategy was to focus on finding and producing new supplies of crude oil and natural gas. To put it mildly, Tillerson, leading his second shareholder meeting, pretty well ignored the climate-change debate.