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Exxon CEO Mocks Renewable Energy

Exxon CEO Mocks Renewable Energy thumbnail

The CEO of one of the world’s largest oil companies downplayed the effects of climate change at his company’s annual meeting Wednesday, telling shareholders his firm hadn’t invested in renewable energy because “We choose not to lose money on purpose.”

“Mankind has this enormous capacity to deal with adversity,” ExxonMobil CEO Rex Tillerson told the meeting, pointing to technologies that can combat inclement weather “that may or may not be induced by climate change.”

The comments, which met with applause, were first reported by The Associated Press.

At the meeting, shareholders sided with the company’s board and voted against a measure proposed by Father Michael Crosby and Sister Pat Daly, representatives of a Milwaukee-based Roman Catholic organization, to add a climate change expert to the company’s board.

In a letter to shareholders, Tillerson and his colleagues wrote that “to set aside one seat for an environmental specialist or for any single attribute or area of expertise would, in our view, not be in the best interests of the company or its shareholders because it would dilute the breadth needed by all directors to make informed decisions for the company.”

Crosby contended that the “company has to be making plans for the future,” according to the AP. “Let’s get an expert on the board to deal with a critical question.”

The measure received only 21 percent of shareholders’ votes.

Another measure that would have mandated a report on the side-effects of Exxon’s hydraulic-fracturing business received less than 25 percent of the vote as well. According to The Guardian, Daly is separately pushing for the company to reduce its carbon emissions over time, both by controlling the effect of its products and its energy inputs. Tillerson and the board oppose this measure as well.

The fracas between Exxon and the Milwaukee-based Catholic organization is just the latest example of simmering tension between the church and the global oil giant.

The company recently sent a representative to lobby the Vatican over an encyclical Pope Francis plans to deliver this summer on the impact of climate change. Exxon reportedly fears that such an encyclical could damage its business.

Due to tumbling oil prices, the company’s earnings have dropped significantly in the past two years. Its current stock price is down 16 percent over the past year.

EIN News



37 Comments on "Exxon CEO Mocks Renewable Energy"

  1. welch on Fri, 29th May 2015 8:27 pm 

    He’s an asshole, but his job is to maximize shareholder wealth, so what can we expect.

  2. GregT on Fri, 29th May 2015 8:33 pm 

    A prime example of why the human race is so screwed.

  3. dissident on Fri, 29th May 2015 8:37 pm 

    Exxon CEO Mocks Climate Change Science.

    Funny…not.

    The clowns who run these outfits are criminals. Exxon spends tens of millions of dollars paying shills of various flavours to defame climate scientists and to sow doubt in the minds of the average consumer lemming about the science. In the large scheme of things this is a major crime that will doom millions of people in the future to die.

  4. Perk Earl on Fri, 29th May 2015 8:48 pm 

    “Mankind has this enormous capacity to deal with adversity,”

    “Excuse me, but how much is this adapting going to cost me so Exxon can continue to rake in big bucks?”

  5. Perk Earl on Fri, 29th May 2015 8:55 pm 

    Essentially what happens with corporations like Exxon is ‘we the people’ give up power to them, and in return we suffer their ecologically destructive footprint. Their self interest is $$$$$$$$$$$$$$$ and nothing else. So what are we doing then? We’re making a deal with the devil to have our cake today and blazing hot planet later.

  6. Rodster on Fri, 29th May 2015 9:36 pm 

    “Exxon CEO Mocks Climate Change Science.”

    Funny how climate scientist have predicted sea level rise. Alton Rd in Miami Beach is now flooding not from rain but from high tides and strong on shore winds. Sea water now bubbles up from the sewers and is at risk of contaminating the fresh water. Home owners are now having to find alternative parking arrangments because their vehicles get flooded during high tides.

    Climate Scientists = 1
    Exxon CEO = 0

  7. Ted Wilson on Fri, 29th May 2015 10:05 pm 

    Already there are holes in Oil’s Armor.
    Many oil fired power plants and heating systems were converted to other fuels.

    Their only domination is in transport and even here, the New Energy Vehicles are creeping in.

    And Oil companies are howling.

  8. Ted Wilson on Fri, 29th May 2015 10:44 pm 

    Read this interesting article. I don’t know whether US Oil companies support USA or KSA (Kingdom of Saudi Arabia).

    http://www.washingtonpost.com/opinions/saudi-arabia-is-no-friend-to-the-united-states/2015/05/29/64f24bac-0588-11e5-8bda-c7b4e9a8f7ac_story.html

  9. hiruitnguyse on Sat, 30th May 2015 12:03 am 

    Latest Bank Jumper:

    http://www.businessinsider.com/man-leaps-from-1-west-street-apartment-2015-5

  10. GregT on Sat, 30th May 2015 12:45 am 

    Welcome to the Rest of Our Lives

    With special guest appearances from none other than Exxon Mobil’s CEO; Rex-we’ll adapt to that-Tillerson.

    https://www.youtube.com/watch?v=b0NrS2L6KcE

    He probably won’t be around by the time that the lynch mobs finally come looking for him. These people should be tried for crimes against humanity.

  11. Robert Coe on Sat, 30th May 2015 7:05 am 

    It is precisely this kind of greedy self serving, bottom liner mentality and moronic stupidity that will condemn this civilization to extinction!
    The fact is that we are polluting our home with billions of tons of formally sequestered carbon. We know so little about how the ecosphere actually works that we are literally playing Russian Roulette, with the environment. This is a gamble we will eventually loose as we keep pulling the trigger, repeatedly.
    Will we be come the first species to go extinct due to short term profit greed?
    If we continue to allow the greed of a few profit oriented short sighted idiots to run the show it may be our demise. Net carbon zero fuel sources are available to us already if we choose to invest in them. Sadly the oil companies are doing their best to discourage their development instead of embracing what will have to happen when fossil oil is depleted anyway. Such shorted sightedness will come back to haunt all of us inevitably.

  12. dave thompson on Sat, 30th May 2015 7:35 am 

    Industrialized “renewable energy” should be mocked, nothing of the sort exists that can be brought to scale to replace fossil carbon, for our current set of living arrangements..

  13. Davy on Sat, 30th May 2015 8:56 am 

    Dave, my thought exactly! I want AltE to be our savior. I have solar. I want more. Yet, I also want society to be honest with itself. We have 90% fantasy, myth, and blind faith in the world today. Humans are incapable of accepting reality which has truth embedded in it.

    We have to accept a world of rebalancing consumption and population. We have to accept a world of decay. We have to accept a world of the irrational and dysfunctional. We can do this by ending the denial of death at every level. We must do this by relative sacrifice in an environment of less in the anticipation of less. We should understand that we have made poor decisions as a species and this may be our evolutionary dead end.

    We will have an unstable climate with a destroyed ecosystem. We have a foundational commodity oil in depletion that has no substitution. We have a complex interconnected global system of just-in-time production and distribution that dangerously lacks sustainability and resilience. This system is energy intensive and rests on confidence of a global system of exchange of fiat currencies. These fiat currencies come into being through debt. Debt has hit limits and diminishing returns.

    This whole situation can be summed up by speaking of a bumpy plateau of limits and diminishing returns of traditional effort of growth. This bumpy plateau will not last indefinitely. Population is rising and our foundational commodities are depleting. Our political and financial structures are going into dysfunction with irrational policies and dysfunctional networks.

    This is happening because of the limits of growth, destruction of ecosystems (human and natural), and growing population. These is no way to manage degrowth. These is no way to reform this system. All locales have been delocalized in a unhealthy dependence on an unstable global.

    We are truly approaching a bottleneck at least within the next generation. We are at the cusp of descent and that descent will be ugly, painful, and deadly. The most we can do until a crisis forces the powers-to-be’s hands is prep individually and locally. If you do not have the ability to do much start a support group. There is strength in numbers. If you have the money and the ability find the right locations and begin the process of preparations of the basics. You can work up to a longer term lifestyle prep for the coming end of industrial man. That will be a hybrid of the new and the old. It will be a world of salvage and scavenging. It will be in many cases an insecure world of violence and decay.

  14. Mike989 on Sat, 30th May 2015 11:19 am 

    Exxon is Not maximizing profits, it’s minimizing the hard work of staying competitive. Tillerson is a lazy Drunk, managing Exxon for long term success would cut into his drinking time.

    Tillerson better find out what a downward sloping Geometric Graph looks like, he’s going to learn the hard way real soon.

    Dumbass still thinks wind and solar are not profitable. He must have absolutely no research group at Exxon looking at what’s on the table for Solar, Wind, Batteries and EV’s three years out.

    It’s going to be a real ShOcK when he see’s is stock drop to zero.

    It’s obvious to everyone in the industry Exxon is going to be in trouble 3 years from now. Only then will the general public know, apparently he’s mental abilities don’t allow him to be a forward thinker, he’s going to preside over Exxon’s Bankruptcy.

  15. GregT on Sat, 30th May 2015 12:53 pm 

    If/when the oil companies go bankrupt Mikey, where do you propose that the resources and energy come from to build out alternate energy infrastructure?

    Solar and wind are extensions of fossil fuels. When fossil fuels are no longer profitable, solar, wind, batteries, and EVs will no longer be produced.

  16. Apneaman on Sat, 30th May 2015 1:42 pm 

    Rex has always been consistent that his purpose in life, what he believes in is to make money. Of course, as more and more little girls and boys bodies continue to get broken and mangled in our ever increasing climate disasters, Rex might find himself regretting his choice. Rex is not alone in his arrogance and defiance. Some Texas politicians and/or bureaucrats might be facing the wrath soon, because they were given an executive order, part of which said to shore up the flood defences, based on scientists recommendations and projections. Some of the deaths in the recent flood may have been preventable if they had done their duty. At the very least it’s criminal negligence. Time will tell if anything comes of it. This is also a reason to move if you live in a denier state. Climate chaos will get all or most of us in the end, but it will be much worse living someplace where they still want to pretend it’s not real and therefore take no steps to protect the citizenry. I bet Rex has got a bug out home or two in different countries eh?

    This has been a month of extreme weather around the world

    http://bigstory.ap.org/article/20b4c60765004e77a2d8e48eebb9862f/has-been-month-extreme-weather-around-world

  17. Perk Earl on Sat, 30th May 2015 5:13 pm 

    “I bet Rex has got a bug out home or two in different countries eh?”

    I want one way off the beaten track with a chained gate and a long dirt road to a small house with a fresh water creek, a food and supplies cache good for several years, with satellite TV/internet service and enough seeds and silver coins to make it through the bottleneck.

  18. Makati1 on Sat, 30th May 2015 6:29 pm 

    More from the wealthy company that has not yet paid it’s Exxon Valdez judgement to those it hurt or destroyed 25 years ago. Capitalism is killing the planet. Time for it to go.

  19. drwater on Sat, 30th May 2015 7:00 pm 

    According to an insider I know well (and who is also concerned about climate change), Tillerson has presided over Exxon as it has actually made somewhat of a turnaround in regards to its attitude and planning on the issue of climate change. It is far more in tune with things than it was 10 years ago, even to the point of publicly acknowledging that climate change is a problem and that a carbon tax is a reasonable way to address it.

  20. Makati1 on Sat, 30th May 2015 8:22 pm 

    drwater, a “carbon tax’ is a joke. It will do zero to lessen petroleum consumption. It is more government eyewash for the masses. Exxon is part of the problem, no matter how it pivots.

  21. theedrich on Sun, 31st May 2015 4:59 am 

    How odd that so many on this site like to curse the head of an oil company.  If there were no demand, oil companies would not exist.  Believers in magic such as the religious nuts from Communist Milwaukee believe that they could “solve” global problems by shutting down industrial civilization while turning its territory into a garbage pit by importing all those needy ThirdWorlders and killing all White males.

  22. joe on Sun, 31st May 2015 8:00 am 

    Mocking climate change to cheering crowds based on his assertion that they will lose money is one thing, but the flaw in his logic is his paradigm that humans surmount challanges. Like the black death? That’s what the scale of the challange is. It’s going to be generational in nature, many coastal mega cities will vanish and this is despite the current economic requirement for eternal growth not to mention sustaining population health. It’s my own personal view that climate change and Healthcare are going to be mere facades for the policy shifts of a reset to sustainable economics and lower energy conditions.

  23. Apneaman on Sun, 31st May 2015 11:46 am 

    California’s Snowpack Is Now Zero Percent of Normal

    http://www.slate.com/blogs/the_slatest/2015/05/29/california_s_snowpack_now_zero_percent_of_normal_a_worst_case_scenario_for.html

  24. Apneaman on Sun, 31st May 2015 12:43 pm 

    The terrorists hate us for our freedoms?

    Texas Bans Fracking Bans in the State

    http://www.slate.com/blogs/the_slatest/2015/05/19/new_texas_state_law_outlaws_local_fracking_bans.html

  25. Apneaman on Sun, 31st May 2015 12:54 pm 

    Rain brings little relief to southern India as heatwave death toll nears 2,200
    Temperatures touch 47C as deadly heatwave that has tormented region since mid-April drags on with expected rainstorms providing scant respite

    http://www.theguardian.com/weather/2015/may/31/southern-india-heatwave-death-toll-nears-2200-rain-brings-little-relief

  26. Apneaman on Sun, 31st May 2015 1:02 pm 

    The end of May and northern Canada is on fire.

    http://www.nwtfire.com/nwt-fire-map

  27. Keith on Sun, 31st May 2015 1:07 pm 

    http://www.cato.org/publications/commentary/when-will-climate-scientists-say-they-were-wrong

    For those of you concerned about Mr Tillerson’s remarks, this post points out, as many others have, that predictions of climate based on CO2 forcing are not supported by the data. If CO2 as a forcing is less of a problem than forecast, maybe Mr Tillerson is right to pursue energy systems that are more reliable than renewables, and require no subsidy.

  28. Apneaman on Sun, 31st May 2015 1:18 pm 

    Arctic methane skyrocketing.

    https://www.youtube.com/watch?v=p2ckkxEnWpA

  29. Apneaman on Sun, 31st May 2015 1:23 pm 

    Keith, thanks for that link from the fossil fuel/MIC/1%/BAU funded Cato institute “Think Tank”

  30. hiruitnguyse on Sun, 31st May 2015 1:39 pm 

    Allerbammy Global Warming Analysis…..Pwaise de Wowrd. Bress Jeebus.

  31. GregT on Sun, 31st May 2015 1:44 pm 

    “Arctic methane skyrocketing.”

    Not good Apnea.

  32. hiruitnguyse on Sun, 31st May 2015 1:49 pm 

    Fixin’ Global Warming in Texas:

    (Better start pwayin for dry now)

    TO ALL TO WHOM THESE PRESENTS SHALL COME:

    WHEREAS, the state of Texas is in the midst of an exceptional drought, with some parts of the state receiving no significant rainfall for almost three months, matching rainfall deficit records dating back to the 1930s; and

    WHEREAS, a combination of higher than normal temperatures, low precipitation and low relative humidity has caused an extreme fire danger over most of the State, sparking more than 8,000 wildfires which have cost several lives, engulfed more than 1.8 million acres of land and destroyed almost 400 homes, causing me to issue an ongoing disaster declaration since December of last year; and

    WHEREAS, these dire conditions have caused agricultural crops to fail, lake and reservoir levels to fall and cattle and livestock to struggle under intense stress, imposing a tremendous financial and emotional toll on our land and our people; and

    WHEREAS, throughout our history, both as a state and as individuals, Texans have been strengthened, assured and lifted up through prayer; it seems right and fitting that the people of Texas should join together in prayer to humbly seek an end to this devastating drought and these dangerous wildfires;

    NOW, THEREFORE, I, RICK PERRY, Governor of Texas, under the authority vested in me by the Constitution and Statutes of the State of Texas, do hereby proclaim the three-day period from Friday, April 22, 2011, to Sunday, April 24, 2011, as Days of Prayer for Rain in the State of Texas. I urge Texans of all faiths and traditions to offer prayers on those days for the healing of our land, the rebuilding of our communities and the restoration of our normal way of life.

    IN TESTIMONY WHEREOF, I have hereunto signed my name and have officially caused the Seal of State to be affixed at my Office in the City of Austin, Texas, this the 21st day of April, 2011.

    RICK PERRY
    Governor of Texas

  33. hiruitnguyse on Sun, 31st May 2015 1:53 pm 

    Meanwhile, Miriam sorts out Cato Institutes John Christie:

    http://blog.hotwhopper.com/2013/10/how-roy-spencer-and-john-christy-trick.html

  34. Apneaman on Sun, 31st May 2015 2:05 pm 

    hiruitnguyse, there will be no shortage of entertainment from America’s two biggest and only religious parties (left-right) as the great unraveling continues. Similar implosions will happen else where, but America tends to do everything in the extreme.

    ‘It’s Shameful’: Scientists Slam Ted Cruz For Dodging Climate Question After Texas Floods

    http://thinkprogress.org/climate/2015/05/31/3664206/ted-cruz-climate-change-texas-floods/

  35. Apneaman on Sun, 31st May 2015 2:09 pm 

    Were all normal here.
    ……………………….

    Texas floods: Enough rain to cover entire state with 8 inches of water in May

    http://www.cnn.com/2015/05/30/us/severe-weather/

  36. hiruitnguyse on Sun, 31st May 2015 2:09 pm 

    For some reason, I cannot post her deconstruction of Christy & Spencers 5 year exceptionally hot running baseline fraud on this site.

  37. hiruitnguyse on Sun, 31st May 2015 2:27 pm 

    Same subject, another non starter…http://www.nytimes.com/2015/05/31/us/nashville-debates-how-to-prevent-another-devastating-flood.html?_r=0

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