Exxon Mobil redirects public-policy research funds
Oil giant says money to climate-change opponents cut
By Steve Gelsi, MarketWatch
Last update: 9:45 a.m. EDT May 27, 2008
Print E-mail RSS Disable Live Quotes
NEW YORK (MarketWatch) -- Exxon Mobil Corp. has cut funding to groups raising questions about climate change from human-generated carbon dioxide, announced ahead of its annual meeting Wednesday amid criticism that the oil giant isn't as green as some of its rivals.
Spokesman Gantt Walton confirmed Tuesday that in 2008, Exxon Mobil scrapped funding for the Capital Research Center, the Committee for a Constructive Tomorrow, the Frontiers of Freedom Institute, the George C. Marshall Institute and the Institute for Energy Research. Exxon makes contribution decisions on a rolling bases and publishes its list annually in the spring.
"We discontinued contributions to several public-policy research groups whose position on climate change could divert attention from the important discussion about how the world will secure the energy required for economic growth in an environmentally responsible manner," Walton said. The move comes amid growing dissent by shareholders upset that Exxon Mobil doesn't earmark more of its billions for researching forms of alternative energy. The company's annual meeting is scheduled to be held Wednesday in Dallas.
However, the company has softened its position against the theory of global warming in the two years since Rex Tillerson took over from Lee Raymond as chief executive and chairman.
more:
http://www.marketwatch.com/news/story/exxon-mobil-redirects-climate-change/story.aspx?guid=%7bE8735291-C763-4A82-982A-B5E38CF2D571%7d&dist=hpmymw&print=true&dist=printTop
Printer-friendly format
Email this thread to a friend
Bookmark this thread
(1000+ posts)
Send PM |
Profile |
Ignore
