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Exxon needs a new business plan
 ExxonMobil may appear to be riding high. In a down economy Exxon’s profits topped $45 billion last year, making it the most profitable corporation ever.
However, their apparent success is based on a dangerous disregard for the planet and its people and a shortsighted view of our economic future. Exxon remains dedicated to fossil fuels for the foreseeable future despite the facts.
- In 2008, ExxonMobil spent a measly $4 million on renewable energy research while spending $26 billion on oil and gas development. Other oil companies are doing far more with renewables: Shell has made substantial investments in wind power, BP in solar, and Chevron in geothermal;
- Exxon did invest $100 million in advertising to soften its image on these issues;
- Exxon is pouring money into oil at a time when the Obama administration and Congress are providing billions of dollars for renewable energy production and are poised to pass legislation regulating climate emissions;
- Exxon’s competitors, ConocoPhillps, BP America, and Shell have endorsed calls for US carbon emissions to decrease by 60-80% by 2050. Exxon has not;
- ExxonMobil is refusing to address the reality of peak oil, even though its production of oil from conventional fields is in decline;
- Exxon is increasingly exploiting the tar sands of Canada for oil production, an extremely dirty and carbon-intensive source;
- Despite its record profits, Exxon’s shareholders are increasingly supporting resolutions calling for the company to take account of climate change and invest in renewables.
- Exxon has earned a position as the worst oil company on our Responsible Shopper website.
Exxon’s business plan of endless fossil fuels is increasingly at odds with climate change science, government policy, and other companies in its own industry. They are seeking short-term profits at everyone’s expense.
Take action to tell Exxon they need a new business plan.
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Subject: Exxon: Get a new business plan
Dear Rex Tillerson:
Sincerely,
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