Submitted by: John Lambert (FG Staff Journalist)

The Houston Chronicle reports that during its last shareholders meeting, Exxon/Mobile voted to continue focusing on fossil fuels instead of alternative sources, and rejected proposals of setting target dates for greenhouse gases emissions cuts.

Chronicle Reporter Kristen Hays wrote:
“In his trademark measured style, Exxon CEO Rex Tillerson told shareholders that his company’s unwillingness to invest in renewables or push for mandated caps on greenhouse gas emissions doesn’t reflect opposition to either.
Rather, he reiterated the company’s consistent response to criticism that it is dragging its feet in comparison to its peers: Exxon will focus on finding technological advances to create cleaner fuels and make renewables profitable without subsidies while carefully evaluating economics and outcomes in discussions of policies on emissions.”
There were 15 shareholder proposals submitted on various issues from executive pay to climate change. They all were defeated as Exxon’s management requested. The shareholders also re-elected the directors.

Exxon argued their point of view by citing energy forecasts, suggesting that over the next 25 years that 80 percent of all energy will come from oil, coal, and gas.
Hays reported a conversation during the meeting between Tillerson and Andrew Logan, electric-power program director at Ceres, a Boston-based coalition of investors and environmental groups working with companies to address climate change,
“Why has your company put so much effort into making itself public enemy No. 1 on climate change? You claim your position is misunderstood, but it seems like you want to be misunderstood,” Logan said.
“Let me assure you,” Tillerson replied, “we never set out to make the company public enemy No. 1.”

Sister Pat Daly who submitted the greenhouse gas proposal, told Tillerson that Exxon Mobil can be a major player in addressing climate change, which she called a “moral problem” in addition to an economic issue.

More on this story is available from The Houston Chronicle and The Houston Chronicle Energy Blog