It could be argued that Exxon is actually an energy company, but it’s still an energy company that knows where its bread is buttered. Oil and gas is the winning game for this company, not solar.
Thus wrote Jeff Siegel this week on the Energy & Capital website. Siegel was referring to Exxon Mobil Corporation’s thumping of shareholder resolutions by As You Sow, the Interfaith Center for Corporate Responsibility and other religious groups intended to push ExxonMobil into naming an environmental scientist to the board and issue a report on the environmental impact of the company’s hyraulic-fracturing operations. Another study to be pitched on the growing pile of fracking reports issued regularly by industry and regulators?
Siegel is as clearheaded a liberal writer as I’ve come across on these matters. He writes:
Again, I don’t see the benefit here for shareholders.
Those who oppose fracking have plenty of this data, anyway. So to mandate such a report seems like a waste of time, particularly if the report indicates no negative side effects. You think anyone who opposes fracking would believe anything included in that report?