APRIL 17, 2001 - This Week at TomPaine.com...
DITHERING AND DENIAL
Shareholders Challenge ExxonMobil on Global Warming
Earth Day 2001 finds ExxonMobil CEO Lee Raymond once again
fighting some of his shareholders. They want him to stop
denying the reality of human-induced global warming.
The shareholders are pushing two resolutions at the
company's upcoming shareholder meeting in May. If passed,
the resolutions would help move ExxonMobil away from it's
global-warming denial. Last year, in opposing the same
resolutions, Lee Raymond showed he isn't above using
distortion to mislead his shareholders: he misused an
eminant oceanographer's research; mistated the findings of
another scientist's work; and he cited a discredited
petition in questioning whether a scientific consensus on
global warming exists.
"Institutional investors know it's not good business
to
mislead shareholders or the public," said Sister Pat
Daly,
one leader of the group pushing the shareholder
resolutions.
"Investors want Lee Raymond to end ExxonMobil's
dithering
and denial on global warming."
READ THIS WEEK'S NEW YORK TIMES 'OP AD'
...AND READ THESE OP AD FEATURES...
HOW EXXONMOBIL MISLEADS ITS SHAREHOLDERS
ExxonMobil's position on global warming is
consistently
based on outdated, manipulated and unqualified
information.
>From the point of view of reason and fact, the
company's
position is unjustifiable and reckless.
IN HIS OWN WORDS
by Lee Raymond, Chairman and CEO, ExxonMobil
At the 2000 shareholder meeting, Lee Raymond
shared his
thoughts on global warming, creating a rationale for
further
dithering. Listen here for yourself.
THE SHAREHOLDER RESOLUTIONS
Enough shareholders approved the following
resolutions
last year that they are back on the ballot for the
upcoming
ExxonMobil shareholder meeting in May. The company
appealed
to the Securities and Exchange Commission to bar the
resolutions, but was rejected. Read for yourself what
ExxonMobil fears:
* A RESOLUTION PROMOTING RENEWABLE ENERGY
* A RESOLUTION ON EXECUTIVE COMPENSATION
THE SCIENCE OF SKEPTICISM
by Ross Gelbspan
Those who dither and deny global warming like
to justify
their postion by pointing to a handful of skeptics... many
of whom are funded by companies like ExxonMobil! Pulitzer
Prize winner Ross Gelbspan takes a look at some of them. A
piece originally published in The Nation.
EXXONMOBIL RESPONDS TO TP.c
by Cynthia Langlands, ExxonMobil Media Relations Officer
We gave the company a chance to respond. This
is all they
could come up with. Pretty weak.
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Also this Week at TomPaine.com...
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LEARNING A LESSON FROM THE CHINESE
by Ray Cheung
The Bush administration could learn a thing
or two from
China about compliance with international agreements and
global responsibility. After all, in the face of climate
change, the U.S. is sitting on its hands. China isn't.
STILL BURNING AFTER ALL THESE YEARS
by Stephen DiLauro
Most residents of Centralia, Pennsylvania,
fled after an
underground coal fire wouldn't go out. But those who
remain
suspect authorities of duping them to get billions in
mineral wealth beneath the town.
LOSING GROUND IN THE NEWROOM
by Joe Davidson, BET.com
While this country grows increasingly
diverse, the
newspaper industry is in retreat. Today, the American
Society of Newspaper Editors doesn't even mention the
goals
it set in 1978, much less its failure to live up to them.