UN blames global warming on fossil fuels; Exxon posts $40 billion US profit

Fri, 2007-02-02 11:42Bill Miller
Bill Miller's picture

UN blames global warming on fossil fuels; Exxon posts $40 billion US profit

Barely a week before scientists from 113 countries issued the long-awaited IPCC report; Exxon Mobil Corp. of Texas announced its record windfall to a storm of protest and accusations of using those profits to fund a campaign denying climate change and protesting efforts to reduce petroleum consumption.

In addition to Exxon, Royal Dutch Shell PLC, an Anglo-Dutch company, and US-run ConocoPhillips Co., Marathon Oil and Valero Energy also have posted best-ever annual results.

In a year of rising global temperatures and record gasoline prices, combined profits at the five companies totaled $91.1 billion.

The 21-page IPCC report, meanwhile, has blamed man-made emissions of greenhouse gases for fewer cold days, hotter nights, killer heat waves, floods and heavy rains, devastating droughts, and an increase in hurricane and tropical storm strength - particularly in the Atlantic Ocean.

Comments

Avaaz.org is launching a climate change campaign early next week. The campaign will feature a provocative 30 second video available in several languages asking people around the world to contact their leaders and to urge them to do something about global warming. Avaaz.org
While lobbying the government to do something about global warming – like seriously regulating industry – start taking personal action to do something immediately.

Have you cut your carbon today?

I’ll lobby the government. For Exxon, I’ll cut my carbon. I’ve known what to do and I’ve been “about to” do it for a long time. Now I’m doing it. Something about seeing those liars earning record profits while playing games with my children’s future is a very good spur to action.
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Still own some Exxon Mobil stock and been dithering about divestment?

You’re leaving money on the table, and exposing your portfolio to severe risks that the company itself is underestimating. That’s according to a new report published by the Carbon Tracker Initiative, which finds that the stock’s recently sub-par performance can partially be explained by the company’s increasing dependence on tar sands.

Carbon Tracker says that Exxon is “...

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