Nice Try, Rockefellers
At its annual meeting yesterday, ExxonMobil rejected 17 measures, including proposals for the company to reduce greenhouse gas emissions and invest in renewable energy sources. Chairman and chief executive Rex Tillerson said Exxon has already helped cut emissions by spending more than $2 billion over the last five years on such initiatives.
But members of the Rockefeller family aren’t sure the company is doing enough. ""All of ExxonMobil’s acknowledged strengths are no guarantee that it will remain flexible and visionary in light of the changing energy realities that lie ahead." said family spokesman Peter O’Neill at the meeting.
This of course angered other shareholders who reminded the Rockefellers that their goal is to make money. Steven Milloy of the Free Enterprise Action Fund said today, "For those shareholders who don’t like the oil and gas business, get out," he said. "The rest of us will be quite happy to purchase your shares and enjoy the profits of true social responsibility."