ExxonMobil needs to invest in new energy

Tuesday, July 31, 2007 | 2:00 a.m. CDT; updated 11:32 a.m. CDT, Monday, July 21, 2008

Exxon Mobil Corp. is reporting yet another quarter of staggering profits near $10 billion. While we pay the high gas prices that pump up Exxon’s profits, we are also paying for Exxon’s campaign to block action on global warming.

ExxonMobil is the only oil giant directly funding global warming denier groups. The company’s own public records show that through 2006 ExxonMobil has spent up to $21 million bankrolling global warming denier groups like the Heartland Institute — who describe global warming as nothing more than “environmental alarmism.”

Although ExxonMobil says it is taking action on global warming, the company’s latest Corporate Citizenship Report shows that its own global warming pollution levels actually increased by over 5 percent last year.

Other oil giants are taking global warming seriously while continuing to make healthy profits. They invest their profits in renewable energy and set limits on their own pollution or support a federal bill that would do so. But ExxonMobil does none of these things.

Studies used by Congress show that if we increase our use of homegrown renewable energy resources — wind, solar, geothermal and biomass — then consumer energy prices will drop and new high-paying jobs will be created. ExxonMobil is the only oil giant still refusing to invest in renewable energy.

Like what you see here? Become a member.

Show Me the Errors (What's this?)

Report corrections or additions here. Leave comments below here.

You must be logged in to participate in the Show Me the Errors contest.


Leave a comment

Speak up and join the conversation! Make sure to follow the guidelines outlined below and register with our site. You must be logged in to comment. (Our full comment policy is here.)

  • Don't use obscene, profane or vulgar language.
  • Don't use language that makes personal attacks on fellow commenters or discriminates based on race, religion, gender or ethnicity.
  • Use your real first and last name when registering on the website. It will be published with every comment. (Read why we ask for that here.)
  • Don’t solicit or promote businesses.

We are not able to monitor every comment that comes through. If you see something objectionable, please click the "Report comment" link.

You must be logged in to comment.

Forget your password?

Don't have an account? Register here.