Exxon Mobil

“There is no doubt”: Exxon Knew CO2 Pollution Was A Global Threat By Late 1970s

Throughout Exxon’s global operations, the company knew that CO2 was a harmful pollutant in the atmosphere years earlier than previously reported.


DeSmog has uncovered Exxon corporate documents from the late 1970s stating unequivocally “there is no doubt” that CO2 from the burning of fossil fuels was a growing “problem” well understood within the company.

It is assumed that the major contributors of CO2 are the burning of fossil fuels… There is no doubt that increases in fossil fuel usage and decreases of forest cover are aggravating the potential problem of increased CO2 in the atmosphere. Technology exists to remove CO2 from stack gases but removal of only 50% of the CO2 would double the cost of power generation.” [emphasis added]

Those lines appeared in a 1980 report, “Review of Environmental Protection Activities for 1978-1979,” produced by Imperial Oil, Exxon’s Canadian subsidiary.

State Investigations Into What Exxon Knew Double, and Exxon Gets Defensive

On Tuesday, the number of state attorneys general investigating ExxonMobil for potential climate denial fraud doubled. Massachusetts Attorney General Maura Healey and Virgin Islands Attorney General Claude Walker announced that they have opened up their own probes of what Exxon knew about climate change while it was denying the realities of climate science publicly and to shareholders

They follow the lead of New York Attorney General Eric Schneiderman — who in November 
first issued a subpoena to ExxonMobil for hundreds of thousands of pages of documents about the company's climate science research and internal communications spanning over four decades — and of California Attorney General Kamala Harris, who announced that state's investigation in January.

News of these investigations in Massachusetts and the Virgin Islands came as attorneys general and their representatives gathered in Manhattan for a daylong conference on climate change. During the proceedings, the top legal authorities from 15 states, the Virgin Islands, and the District of Columbia announced a coalition to collaborate on legal efforts to “deal with climate change,” as Schneiderman put it.

Investors Urge Oil Companies to Stress Test Portfolios Against Two Degree Scenario

Earlier this month Bill McKibben wrote that “Across the northern hemisphere, the temperature, if only for a few hours, apparently crossed a line: it was more than two degrees Celsius above “normal” for the first time in recorded history.”

Of course this comes on the heels of February breaking temperature records in such a stunning fashion that it resulted in a comment from NASA climate scientist Gavin Schmidt of simply - “Wow.”  

Seeing as the Paris climate agreement set a goal of limiting global warming to two degrees Celsius above “normal” this would appear to stress the urgency of addressing climate change and ending our dependence on fossil fuels.

That's why many investors in oil companies are now asking the companies to address this reality by stress testing their portfolios against a scenario where the two degree goal is achieved. The only way to achieve this goal is to leave a significant amount of oil company assets “stranded” or “in the ground.”

During Paris Climate Summit, Obama Signed Exxon-, Koch-Backed Bill Expediting Pipeline Permits

Just over a week before the U.S. signed the Paris climate agreement at the conclusion of the COP21 United Nations summit, President Barack Obama signed a bill into law with a provision that expedites permitting of oil and gas pipelines in the United States.

The legal and conceptual framework for the fast-tracking provision on pipeline permitting arose during the fight over TransCanada's Keystone XL tar sands pipeline. President Barack Obama initially codified that concept via Executive Order 13604 — signed the same day as he signed an Executive Order to fast-track construction of Keystone XL's southern leg — and this provision “builds on the permit streamlining project launched by” Obama according to corporate law firm Holland & Knight.

What Happened to Obama's 'Planet in Peril' Rhetoric?

We know the challenges that tomorrow will bring are the greatest of our lifetime: two wars, a planet in peril, the worst financial crisis in a century,” the newly elected president Barack Obama said in 2008 during his victory speech in Grant Park, Chicago, Illinois. 

The road ahead will be long. Our climb will be steep. We may not get there in one year or even in one term. But, America, I have never been more hopeful than I am tonight that we will get there,” he told the assembled public. “I promise you, we as a people will get there.”

Obama was in his own inimitable style promising to meet the challenge of climate change – while acknowledging that the resistance of the oil monopolies dominating the American energy market would be fierce.

ExxonMobil ‘Nimby’ CEO Makes Fresh Calls for Fracking in Europe

Rex Tillerson, chief executive of ExxonMobil, the world’s largest oil company, has called for European governments to support fracking, despite being called out as a ‘nimby’ last year.

Speaking at the World Gas Conference in Paris this week, he claimed that the large number of wells already fracked in the US and Canada have proven that the technology is safe.

However, just last year, Tillerson joined a lawsuit citing fracking’s consequences in order to stop the construction of a 160-foot water tower as it would harm the value of his $5 million home in Texas.

United Steelworkers Oil Refinery Strike Spreads

Workers at Shell and Motiva refineries in Norco, Louisiana, about 30 miles west of New Orleans, have joined the growing national United Steelworkers Union (USW) strike. In total, 15 facilities are now striking, making this the largest refinery strike since 1980.

On the second night of the strike in Norco, a giant flare at the Shell refinery illuminated the workers on the picket line, serving as a reminder of the dangers that come with working at refineries.

“There are a lot of hazards out here,” Bryan Shelton, a media liaison for the union, said. “If you have that much hydrocarbon in one area, you have a chance for a lot of things to go wrong, so if you have someone working too many hours that is a dangerous thing.”

Willie Soon Attacks Funders of Climate Denial for 'Lack of Courage'

Willie Soon is at the centre of a perfect climate science denial storm, writes Brendan Montague with additional reporting from Kyla Mandel.

The aerospace engineer working at the the Harvard-Smithsonian Center for Astrophysics was caught out when telling his fossil fuel industry funders that his research papers and U.S. Senate evidence were “deliverables”.

The controversy made the front page of the New York Times and now his employer has launched an investigation into the ethics of his secret funding. There is even a petition asking for his dismissal.

And his day is about to get even worse.

Exxon to Shareholders: No Carbon Bubble Risk Here. Carbon Tracker to Exxon: Really?

Still own some Exxon Mobil stock and been dithering about divestment?

You’re leaving money on the table, and exposing your portfolio to severe risks that the company itself is underestimating. That’s according to a new report published by the Carbon Tracker Initiative, which finds that the stock’s recently sub-par performance can partially be explained by the company’s increasing dependence on tar sands.

Carbon Tracker says that Exxon is “significantly underestimating the risks to its business model from investments in higher cost, higher carbon reserves; increasing national and subnational climate regulation; competition from renewables; and demand stagnation.”

Back in March, Exxon responded to a shareholder resolution by Arjuna Capital and As You Sow, two shareholder advocacy organizations, regarding potential carbon asset risk. The original resolution had demanded greater transparency in how Exxon assesses the risks to its significant carbon-based assets in a future where low-carbon policies and changing market forces could strand these assets. Exxon responded with a 29-page report, “Energy and Carbon – Managing the Risks.”

The Carbon Tracker Initiative closely examined Exxon’s report and has now published a firm rebuttal.

Days Before Obama Announced CO2 Rule, Exxon Awarded Gulf of Mexico Oil Leases

On Friday May 30, just a few days before the U.S. Environmental Protection Agency announced details of its carbon rule proposal, the Obama Administration awarded offshore oil leases to ExxonMobil in an area of the Gulf of Mexico potentially containing over 172 million barrels of oil.

The U.S. Department of Interior's (DOI) Bureau of Ocean Energy Management (BOEM) proclaimed in a May 30 press release that the ExxonMobil offshore oil lease is part of “President Obama’s all-of-the-above energy strategy to continue to expand safe and responsible domestic energy production.” 

Secretary of Interior Sally Jewell formerly worked as a petroleum engineer for Mobil, purchased as a wholly-owned subsidiary by Exxon in 1998.

Dubbed a “Private Empire” by investigative reporter Steve Coll, ExxonMobil will now have access to oil and gas in the Alaminos Canyon Area, located 170 miles east of Port Isabel, Texas. Port Isabel borders spring break and tourist hot spot South Padre Island.


Map Credit: U.S. Bureau of Ocean Energy Management

ExxonMobil originally won the three leases at the Western Planning Area Sale 233, held on March 19. BOEM records show ExxonMobil was the only company to participate in the bid and paid over $21.3 million.

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