Thursday, May 29, 2008

Exxon Mobil CEO Takes Aim at Environmentalists

DALLAS -- Rex Tillerson, chairman and chief executive of Exxon Mobil Corp., the world's largest oil-and-gas company, came out swinging Wednesday against the environmental movement, arguing the science of climate change is far from settled and that his company views it as its "corporate social responsibility" to continue to supply the world with fossil fuels.

Speaking to reporters after the annual meeting of shareholders, at which much-publicized proposals by the Rockefeller family calling for new investment in renewable energy received little support, Mr. Tillerson also said he expects little delay in the $8-billion Kearl oilsands project in Alberta, after a court challenge by environmental organizations this month resulted in the withdrawal of a key federal permit, halting important work.

"I am optimistic that the permit will be restored and we'll be able to get back on track with very little loss to the schedule," he said. "My understanding is that the project ... has been given a very high priority by the government of Canada and is moving along at a fairly rapid pace." Exxon Mobil owns Kearl with its Canadian affiliate, Imperial Oil Ltd.

Read More.......
http://www.financialpost.com/story.html?id=547068

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