Energy Reality Wins at Exxon Mobil Annual Meeting (Atlas is not shrugging at this substance-over-form company)

By Robert Bradley Jr. -- May 30, 2009 6 Comments

If only the United States economy were as strong as ExxonMobil. If only energy realism and free-market consumer service were guiding lights in Austin, Texas; Washington, D.C.; and other seats of political power.

The good news from Exxon Mobil’s annual stockholders meeting in Dallas earlier this week is that the company is focused on its core competencies amid the energy politicization around it. No Enron political machinations here!

In fact, Exxon Mobil is the anti-Enron of corporate America, a rebuff to Ken Lay, who once worked at Exxon, and Jeff Skilling, who declared in 2000: “You will see the collapse and demise of the integrated energy companies around the world. They are going to break up into thousands and thousands of pieces.” (1)

Key Messages

The key messages of Exxon Mobil CEO Rex Tillerson were: 

  1. Petroleum as a primary energy source is the future, not only the recent past.
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ExxonMobil’s Tillerson on Renewable Energy: Realism amid Politics

By Robert Bradley Jr. -- March 7, 2009 12 Comments

As reported by Russell Gold at Environmental Capital, ExxonMobil CEO Rex Tillerson has made an incisive new argument against his company’s investing in government-dependent renewable energy.

“If I wanted to kill [tax subsidies], the thing to do is for Exxon Mobil to go and invest heavily in them and then Congress would immediately cancel the tax subsidy. Actually what they would do is they would just cancel it for us,” said Mr.Tillerson, during the annual analyst meeting at the New York Stock Exchange.

He added: “In reality, that is what I fear would happen. So we are not going to go into investments that are dependent on a government providing a tax system to make them viable.”

This is very interesting. Former ExxonMobil CEO Lee Raymond and now Tillerson have argued against investing in politically dependent renewables because they have been-there-done-that, with investor losses in the 1970s.…

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Exxon Laughs all the Way to the Bank

By -- January 20, 2009 2 Comments

This summer, we had the entertaining spectacle of scions of the Rockefeller family joining with environmental activists such as Greenpeace to urge a change in ExxonMobil’s corporate governance, including redirecting their investment towards green technologies.  Part of their argument was that research ‘proved’ that the world would need these new techologies and that they would be economically viable soon.…

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Upon Further Review … What did ExxonMobil Really Say at the Woodrow Wilson International Center?

By Robert Bradley Jr. -- January 15, 2009 3 Comments

Last week I blogged about the news accounts of ExxonMobil’s coming out in favor of a carbon tax. I was too hasty. I should have read Rex Tillerson’s speech first–and very carefully. Mr. Tillerson did not call for a carbon tax as reported in the Wall Street Journal. Deep in his speech, Tillerson argued that carbon taxation is better than cap-and-trade as a regulatory program.…

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Has ExxonMobil Bought Into Climate Alarmism?

By Robert Bradley Jr. -- January 9, 2009 5 Comments Continue Reading

Industrial Wind vs. the Environment (ILFN issues in debate)

By Robert Bradley Jr. -- April 9, 2024 No Comments Continue Reading

U.S. Congress to International Energy Agency (Fatih Birol): Stop ‘Net Zero’ Cheerleading!

By Robert Bradley Jr. -- April 5, 2024 No Comments Continue Reading

EVs Not: Letters to the Editor, in the Houston Chronicle

By Robert Bradley Jr. -- March 29, 2024 2 Comments Continue Reading

Energy & Environmental Review: March 18, 2024

By -- March 18, 2024 No Comments Continue Reading

Hydrogen Fuel Cell Vehicles: UNSALABLE

By Robert Bradley Jr. -- February 28, 2024 1 Comment Continue Reading