Rockefellers Back Exxon Shareholders' Demand for Alt Fuel Future

Robert Farago
by Robert Farago
rockefellers back exxon shareholders demand for alt fuel future

You'd think that Exxon shareholders would be pretty damn happy about rising gas prices (in terms of the company's alt. fuel investments) and the fact that the energy giant booked $11.7b worth of profits in the first financial quarter of the year. That should go double for the Rockefeller family, whose unimaginable lifestyle is supported by their Exxon stock. But nooooooooo. The New York Times reports that the Rockefeller family have thrown their weight behind a "shareholder rebellion" aimed at pushing Exxon further and faster towards an alt fuel future. "The resolutions ask Exxon to take the threat of global warming more seriously and look for alternatives to spewing [sic] greenhouse gases into the air. One resolution would urge the company to study the impact of global warming on poor countries, another would encourage Exxon to reduce its emissions and a third would encourage it to do more research on renewable energy sources like solar panels and wind turbines." Yes, “Exxon Mobil needs to reconnect with the forward-looking and entrepreneurial vision of my great-grandfather,” Neva Rockefeller Goodwin announced in a statement. “The truth is that Exxon Mobil is profiting in the short term from investments and decisions made many years ago, and by focusing on a narrow path that ignores the rapidly shifting energy landscape around the world."

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  • Juniper Juniper on May 27, 2008

    If companies like GM and others had major stockholders telling the board to spend more time looking toward what the future might bring, they may be a lot better off now. After all, the company does belong to the shareholders.

  • Seabrjim Seabrjim on May 27, 2008

    She is an environmentalist, a philanthropist, and from the looks of it another planet. Sorry. Couldnt resist. Maybe she, along with Rottenbob, might be the only two people wanting to buy a Pontiac G3.

  • SherbornSean SherbornSean on May 27, 2008

    seabrjim, Apparently, 10 year old Geo Metros are selling for $7,500. In this kind of world, a $12K Aveo rebadged as a Pontiac makes sense, I guess.

  • Seabrjim Seabrjim on May 27, 2008

    The $7500 metro people will be the next idiots after the diesel knuckleheads. Dont be rash, the prices will stabilize as more jobs disappear. The greatest country in the world. Not.