Hey Rex: “Real Men – They Discover Renewables”
The boss of oil giant Exxon, Rex Tillerson, will be an "oil man" until the day he dies. And on yesterday’s performance at the company’s AGM this old oil dinosaur is not going green anytime soon.
Read the latest insights and analysis from the experts at Oil Change International.
The boss of oil giant Exxon, Rex Tillerson, will be an "oil man" until the day he dies. And on yesterday’s performance at the company’s AGM this old oil dinosaur is not going green anytime soon.
The famous quote attributed to Benjamin Franklin is that "In this world nothing can be said to be certain, except death and taxes”. Another certainty is that you know that the top executives of controversial companies absolutely hate the one day in the year that they are accountable to their shareholders: the AGM.
Desperate times mean desperate measures. Something has to give. With no end in sight to the low oil price, Canadian tar sands companies are having to sell what are being described as their “jewels in the crown” in order just to survive.
For some years now a growing number of activists, scientists and analysts have been warning that, if we are going to keep global warming to 2 degrees Celcius, that a significant quantify of fossil fuel reserves can never be burnt.
The speech by Mark Carney, the Governor of the Bank of England, earlier this week about the risks of climate change and “stranded assets” has certainly stirred up the debate about global warming.
For years a growing number of voices – from activists, analysts and scientists - have been warning that we cannot afford to burn all the reserves of fossil fuels if we are going to keep global warming to 2 degrees. They argue that huge amounts of oil, coal and gas risk becoming “stranded assets”, which can never be burnt.