exxon
Newsletter
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Oil companies pushed ineffective carbon capture while reaping tax benefits
A congressional investigation found that oil companies misled the public about the effectiveness of carbon capture technology while benefiting from substantial tax credits.
In short:
- The fossil fuel industry promoted carbon capture as a key solution to climate change despite knowing its limited effectiveness.
- Internal documents revealed ExxonMobil and other companies were aware that carbon capture technology could only minimally reduce emissions.
- The industry lobbied for and profited from increased tax credits for carbon capture, despite minimal environmental benefits.
Key quote:
“What the IPCC actually said in its mitigation report was that carbon capture might be necessary for hard-to-abate industries, but that it’s one of the most expensive options and it only equates to small emissions reductions.”
— Paul Blackburn, an environmental lawyer and advisor to the Bold Alliance
Why this matters:
The promotion of carbon capture as a viable climate solution diverts attention and resources from more effective strategies like renewable energy. Taxpayer money is being used to fund these technologies, which may not significantly reduce overall carbon emissions.
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ExxonMobil's board loses climate scientist with minimal impact
Susan Avery, the first climate scientist on ExxonMobil's board, is stepping down after seven years without significant progress on the company's climate policies.
In short:
- Susan Avery, a physicist and atmospheric scientist, joined ExxonMobil’s board in 2017, hoping to influence the company's climate policies.
- Despite her presence, ExxonMobil continued to spread climate disinformation and recently sued shareholders advocating for emissions reductions.
- Avery's departure coincides with increased shareholder activism and legal pressures on ExxonMobil regarding its climate actions.
Key quote:
“People wanted to give her an opportunity to change things from within... [that responsibility] certainly has not borne out in reality.”
— Kathy Mulvey, Union of Concerned Scientists
Why this matters:
ExxonMobil's ongoing resistance to climate accountability emphasizes the challenges faced by insiders trying to push for environmental reform within major fossil fuel companies. Will Avery’s exit serve as a wake-up call for ExxonMobil and similar companies to reassess their commitments to environmental sustainability?
Related EHN coverage:
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California close to wrapping investigation on Exxon's role in plastic pollution
California's Attorney General announced an impending decision on potential legal actions against Exxon Mobil Corp over its role in global plastic pollution.
In short:
- The investigation, started in 2022, examines the oil and petrochemical industry's contributions to plastic waste and misinformation about recycling.
- Exxon, facing scrutiny for misleading public claims about plastic recyclability, is promoting the contentious chemical recycling, also known as advanced recycling.
- Despite ongoing projects, criticisms point to significant delays and failures in Exxon's recycling advancements.
Key quote:
"We are soon going to be ready to get to a decision based on all of our investigations in the coming weeks."
— Rob Bonta, California Attorney General.
Why this matters:
Many consumers believe that recycling their plastic waste sufficiently addresses the problem, but the reality is that a significant portion of plastic is not recyclable, and existing recycling systems capture only a small fraction of the total plastic waste. Most plastic accumulates in landfills, oceans and other ecosystems, where it can take hundreds of years to degrade, releasing harmful chemicals and microplastics that can be ingested by wildlife and enter the human food chain.
Countries are currently meeting in Ottawa to move forward on a historic plastic pollution treaty.
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Exxon CEO shifts emission accountability to consumers
Exxon Mobil's CEO Darren Woods argues that the onus of carbon pollution rests with consumers, not the oil producers.
In short:
- Exxon Mobil, under investor pressure, disclosed its Scope 3 emissions, revealing a significant carbon footprint.
- The company faces lawsuits and public criticism for its historical role in climate misinformation and resistance to fossil fuel transition.
- While Exxon has been accused of dodging responsibility, it has yet to set targets for reducing its vast Scope 3 emissions.
Key quote:
"The people who are generating the emissions need to be aware of and pay the price for generating those emissions."
— Darren Woods, CEO of Exxon Mobil
Why this matters:
Exxon Mobil has communicated a perspective that places the onus of carbon emissions squarely on the shoulders of consumers rather than the producers. This argument is grounded in the principle of supply and demand: Exxon Mobil and similar companies argue that they are merely suppliers, responding to the global demand for energy. According to this viewpoint, the responsibility for carbon emissions begins at the point of consumption, not production.
Peter Dykstra argues that corporations continue to tout their greenness, while journalists get beaten senseless by lame ideas.
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Chicago takes on oil giants in climate lawsuit
A lawsuit alleges that BP, Chevron, ConocoPhillips, Exxon Mobil, and Shell have damaged Chicago by undermining scientific credibility, while their products contribute to devastating effects such as intense storms, floods, extreme heat, and coastal erosion.
In short:
- Chicago is suing BP, Chevron, ConocoPhillips, Exxon Mobil, and Shell, alleging they misled the public about climate change impacts.
- The lawsuit aims to hold these companies accountable for the city's climate change-related costs, including infrastructure damage and adaptation expenses.
- This legal action follows similar suits by New York and California, seeking financial compensation for fossil fuel-induced environmental harm.
Key quote:
The fossil fuel industry “funded, conceived, planned and carried out a sustained and widespread campaign of denial and disinformation about the existence of climate change and their products’ contribution to it.”
— Chicago lawsuit against fossil fuel companies
Why this matters:
This lawsuit underscores a growing trend of cities holding corporations accountable for environmental damage, particularly as it relates to public health and safety. It reflects a significant shift in how local governments are addressing the broader issue of climate change, potentially setting a precedent for future legal actions against major polluters.
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Exxon's oil exploration in Guyana could heighten regional tensions
ExxonMobil's plan to drill for oil in a disputed region between Guyana and Venezuela risks escalating tensions in South America.
In short:
- ExxonMobil intends to explore oil in a region claimed by both Guyana and Venezuela, potentially heightening tensions.
- The territorial dispute over the Essequibo region has intensified, with Venezuela's President Maduro suggesting forceful annexation.
- South American leaders and the international community are concerned about the impact of Exxon's actions on regional stability.
Key quote:
“The truth is that this announcement couldn’t come at a worse time. This is going to be a massive test for regional diplomacy."
— Geoff Ramsey, senior fellow at the Atlantic Council.
Why this matters:
This development underscores the complex interplay between natural resource exploitation and international relations, highlighting the need for careful diplomatic navigation in resource-rich, contested areas.
Developing countries that increase their fossil fuel production are at a crossroads: securing their own long-term well-being or earning revenue to finance programs to support immediate economic growth.
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Photo by Markus Spiske on Unsplash
US oil company ExxonMobil sues to block investors’ climate proposals
The US oil company ExxonMobil has filed a lawsuit to block a vote on a climate resolution brought by a green activist, in move that will be watched closely by fossil fuel companies worldwide.
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