6.17.2005
Exxon Chief Makes A Cold Calculation On Global Warming (CommonDreams.org)
By Jeffrey Ball
Wall Street Journal
June 15, 2005
ANNANDALE, N.J. -- At Exxon Mobil Corp.'s laboratories here, there isn't a solar panel or windmill in sight. About the closest Exxon's scientists get to "renewable" energy is perfecting an oil that Exxon could sell to companies operating wind turbines.
Oil giants such as BP PLC and Royal Dutch/Shell Group are trumpeting a better-safe-than-sorry approach to global warming. They accept a growing scientific consensus that fossil fuels are a main contributor to the problem and endorse the 1997 Kyoto Protocol, which caps emissions from developed nations that have ratified it. BP and Shell also have begun to invest in alternatives to fossil fuels.
What particularly riles the green movement is Exxon's funding of several groups that continue to argue that the science doesn't justify caps. Among them is the Competitive Enterprise Institute, which received a total of $465,000 in 2003 from Exxon and the company's charitable foundation, according to a corporate-giving report that Exxon posts on its Web site.
Not Exxon. Openly and unapologetically, the world's No. 1 oil company disputes the notion that fossil fuels are the main cause of global warming. Along with the Bush administration, Exxon opposes the Kyoto accord and the very idea of capping global-warming emissions. Congress is debating an energy bill that may be amended to include a cap, but the administration and Exxon say the costs would be huge and the benefits uncertain. Exxon also contributes money to think tanks and other groups that agree with its stance.
Exxon publicly predicts that solar and wind energy will continue to provide less than 1% of the world's energy supply in 2025, a subject that others shy away from. Even if fossil fuels are the chief global-warming culprit, Exxon argues, the sensible response is to figure out how to burn them more efficiently.
"We're not playing the issue. I'm not sure I can say that about others," Lee Raymond, Exxon's chairman and chief executive, said in a recent interview at Exxon headquarters in Irving, Texas. "I get this question a lot of times: 'Why don't you just go spend $50 million on solar cells? Charge it off to the public-affairs budget and just say it's like another dry hole?' The answer is: That's not the way we do things."
(More ... Exxon Chief Makes A Cold Calculation On Global Warming) ¶ 08:00
Wall Street Journal
June 15, 2005
ANNANDALE, N.J. -- At Exxon Mobil Corp.'s laboratories here, there isn't a solar panel or windmill in sight. About the closest Exxon's scientists get to "renewable" energy is perfecting an oil that Exxon could sell to companies operating wind turbines.
Oil giants such as BP PLC and Royal Dutch/Shell Group are trumpeting a better-safe-than-sorry approach to global warming. They accept a growing scientific consensus that fossil fuels are a main contributor to the problem and endorse the 1997 Kyoto Protocol, which caps emissions from developed nations that have ratified it. BP and Shell also have begun to invest in alternatives to fossil fuels.
What particularly riles the green movement is Exxon's funding of several groups that continue to argue that the science doesn't justify caps. Among them is the Competitive Enterprise Institute, which received a total of $465,000 in 2003 from Exxon and the company's charitable foundation, according to a corporate-giving report that Exxon posts on its Web site.
Not Exxon. Openly and unapologetically, the world's No. 1 oil company disputes the notion that fossil fuels are the main cause of global warming. Along with the Bush administration, Exxon opposes the Kyoto accord and the very idea of capping global-warming emissions. Congress is debating an energy bill that may be amended to include a cap, but the administration and Exxon say the costs would be huge and the benefits uncertain. Exxon also contributes money to think tanks and other groups that agree with its stance.
Exxon publicly predicts that solar and wind energy will continue to provide less than 1% of the world's energy supply in 2025, a subject that others shy away from. Even if fossil fuels are the chief global-warming culprit, Exxon argues, the sensible response is to figure out how to burn them more efficiently.
"We're not playing the issue. I'm not sure I can say that about others," Lee Raymond, Exxon's chairman and chief executive, said in a recent interview at Exxon headquarters in Irving, Texas. "I get this question a lot of times: 'Why don't you just go spend $50 million on solar cells? Charge it off to the public-affairs budget and just say it's like another dry hole?' The answer is: That's not the way we do things."
(More ... Exxon Chief Makes A Cold Calculation On Global Warming) ¶ 08:00
