Exxon Update

A change of heart/action... or not?
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Exxon update 1/9/07

We have a bit of a PR problem on global warming, ExxonMobil admits

ExxonMobil has promised investors it will "soften" its public image in an attempt to rid itself of a reputation as the green campaigners' public enemy number one.

However, the chairman and chief executive, Rex Tillerson, made clear to a select group of Wall Street fund managers and analysts that the oil company would not be changing its position on global warming, it would just try to explain it better.

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From 1/11/07 ( as posted on desmogblog.com)

Exxon Acknowledges Climate Change, cuts CEI's funding

In an interview reported in the Wall Street Journal today, Kenneth Cohen began to shift Exxon's corporate positioning on climate change, accepting the reliability of the science and announcing that Exxon has stopped funding climate change deniers like the Competitive Enterprise Institute (CEI).

Cohen also told the WSJ that Exxon is expecting regulatory action soon and wants to be part of the discussion.

"Exxon wants any regulation to be applied across "the broadest possible base" of the economy, said Jaime Spellings, Exxon's general manager for corporate planning. Exxon says avoiding a ton of carbon-dioxide emissions is, with certain exceptions, less expensive in the power industry than in the transportation sector. Though solar energy remains expensive, reducing a ton of emissions by generating electricity from essentially carbon-free sources such as nuclear or wind energy is cheaper than reducing a ton of emissions through low-carbon transportation fuels such as ethanol."