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by Natasha Lasky, ODP Contributing Writer Leaked internal documents from Exxon Mobil reveal that the corporation is planning for an increase in its annual carbon emissions by as much as the output of the entire nation of Greece. While plummeting oil prices in April drove Exxon to cut a third of its spending budget, […]
Why This Matters: The commitment by JP Morgan to stay out of the Arctic shows that pressure from the public is working — forcing the bank to reconsider its fossil fuel loans and investments in a part of the planet which is changing more rapidly than most areas.
Former Exxon Mobil CEO Rex Tillerson took the stand in the trial against the company on Wednesday — he denied that the company was trying to hedge its disclosures about the company’s real estimates of the costs of future climate regulation, but we also learned that he used a secret email account under the name Wayne Tracker. A few days earlier, former scientists for the oil giant revealed that their science made clear to executives that burning fossil fuels would cause rising temperatures, but once they understood it would harm its business, Exxon Mobil began a public campaign to sow doubt about the reality of global warming.
Why This Matters: This dueling testimony makes patently clear the lack of conscience displayed by Exxon executives for decades. Tillerson expressed no remorse for the climate mess we are in — it was just one of many “risks” the company had to manage.
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