<kirby's dreamland>
about me

Name Katherine Kirby Neubert
Birthday 09.13.87
Email katherineneubert@hotmail.com
--
writer, jolter, aspiring photojournalist.

friends

alexis design
the daily collegian
the daily jolt
the new york times
wordswift



Tuesday, May 27, 2008
I found this article in today's New York Times rather interesting regarding the largest and most profitable company in the world, the John D. Rockefeller Standard oil Company, and its resistance to move past the oil age and on to alternative energy sources.

The family members of the giant oil company descended from John D. Rockefeller’s Standard Oil Trust firmly stand behind a shareholder rebellion, against ExxonMobil.

But, even with the Rockefeller family’s support, three resolutions to be voted on at the company’s shareholder meeting on Wednesday, are not ensured to pass.

The three resolutions are as follows:

  • Asking Exxon to take the threat of global warming more seriously and look for alternatives to spewing greenhouse gases into the air,
  • Urging the company to study the impact of global warming on poor countries, and encouraging Exxon to reduce its emissions,
  • And also encouraging more research on renewable energy sources like solar panels and wind turbines.

There is a fourth resolution, which would strip Rex W. Tillerson of his position as chairman of Exxon’s board, forcing the company to separate that job from the chief executive’s job, which he also holds as well. This resolution is considered more likely to pass, and also has the Rockefellers most united in supporting.

Mr. Tillerson is perceived as more resistant than other oil chieftans to investing in alternative energy, unlike that of BP (formerly British Petroleum) and Royal Dutch Shell, who are moving into solar energy and biofuels, while Exxon stays focused on drilling, refining and selling oil and gasoline.

“Exxon Mobil needs to reconnect with the forward-looking and entrepreneurial vision of my great-grandfather,” Neva Rockefeller Goodwin, a Tufts University economist, said in a statement to reporters.

The family says they aren’t trying to embarrass Mr. Tillerson, but believe it is time for the company to spend its funds helping a new energy future.

“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,” she added.

Before the Rockefellers became publicly involved, 40 percent of shareholders who voted agree that there should be separate positions of chairman and chief executive, like that of Shell and BP.



"Kat" [ 6:18 PM ]