#Exxon remains the largest US producer of #oil and #gas and the biggest emitter of CO2 among investor-owned companies. The Texas-based company also has the weakest #emissions-reduction targets among the world’s “oil supermajors,” according to Carbon Tracker https://buff.ly/4akfWo4
#Exxon CEO Darren Woods made a bold statement on Friday. #FossilFuels, he claims, are "not in decline" - despite markets & #EVs + decreasing transport sector #oil⛽️ demand painting a very different picture 📉https://buff.ly/3WkHhmr
"The Dutch Senate on Tuesday approved a law to permanently close the #Groningen gas field, following the government's promise that production will never be resumed to limit seismic risks in the region.
"Gas profits have delivered an estimated 363 billion euros ($385 billion) to the Dutch treasury since production started in the 1960s, while #Shell and #Exxon's profit from #Groningen was around 66 billion euros during that period."
Gas brought the Dutch a higher living standard, financed the Delta Works coastal storm barrier, and made the #Netherlands a poster child for Dutch disease (unlike Norway, they spent it all).
Skeptischer Claus-Dieter: „Die #Klimakatastrophe ist eine linksgrüne Verschwörung, um uns allen das Geld für angeblichen „Klimaschutz“ aus der Tasche zu ziehen und die Fossilindustrie zu ruinieren!!!“
#CarbonMajors is a database of historic production data from 122 of the world’s largest oil, gas, coal, and cement producers.
• Investor-owned companies account for 31% of emissions, with Chevron, ExxonMobil, and BP the three largest contributors.
• State-owned companies are linked to 33%, with Saudi Aramco, Gazprom, and the National Iranian Oil Company being the largest contributors.
• Nation-states account for the remaining 36%.
“The #CarbonMajors database makes it dramatically easier to document, calculate, and visually demonstrate the growing chasm between the urgent demands of climate reality and the continued reckless and intentional growth of oil and gas production,” said Carroll Muffet, President and CEO of the Center for International Environmental Law #CIEL.
"#Guyana holds the sixth-largest #oil reserves in the Americas and the nineteenth largest in the world. With high quality product, below average production costs, and low local consumption, the reserves have enormous export potential—per capita, Guyana has quickly become the highest producer of oil in the world... The oil discovery has reignited longstanding imperial tensions and introduced new ones"
#FromtheArchives -
"A Discussion Paper on Potential Global Warming": Imperial Oil (Canadian subsidiary of #Exxon) acknowledges in 1990, "the scientific basis for the so-called greenhouse effect was well established decades ago" #FossilFuels#GlobalWarming
"The head of the IPCC has compared the rollout of carbon capture and storage (#CCS) to "trying to push water uphill," questioning a technology that the oil and gas industry has long touted as integral to net-zero emission plans.
The International Energy Agency has previously called for the oil and gas industry to let go of the "illusion" that carbon capture is a solution to climate change, pushing instead for energy majors to ramp up investments in clean energy."
"[#Exxon] is suing #investors to intimidate them from ever trying to influence corporate decisions.
“What they’re trying to do is silence shareholder voices, specifically to silence the voices of shareholders who are concerned about #ClimateRisk,” he added. “It’s noteworthy that a company like Exxon is so determined to shut down the conversation… amongst shareholders about these long-term risks.” "
Sounds like they're soiling their pants over "climate risk".
“#Exxon has gone well beyond any other company that we’re aware of in terms of suing shareholders for trying to bring forward a proposal,” Cohen told the Financial Times. “There doesn’t seem to be anything other than an agenda of sending a message of shutting down shareholders’ ability to speak their mind.”
"#CalPERS, the biggest public pension plan in the United States, said on Monday it would vote against all #Exxon Mobil (XOM.N) board members at its upcoming annual meeting on May 29, citing the oil major's legal action against activist investors."
The nation’s third-largest public pension fund — the New York State Common Retirement Fund — said it would vote against 10 of 12 #Exxon board members, for failing to address climate change.
At least seven other shareholders, including the Interfaith Center on Corporate Responsibility, have filed documents with the Securities and Exchange Commission protesting Exxon’s actions and in some cases urging shareholders to vote against Exxon directors."
"Investors voted in line with all board recommendations at the virtual meeting. An average of 95% backed the re-election of 12 Exxon directors while proposals for reports on gender and race, plastics and social impact were rejected."