Tag Archives: Exxon Mobil

As World Leaders Craft Climate-Change Plan, ALEC Plots Its Downfall

Repost from Public News Service – AZ
[Editor:  This is an important – and alarming – report.  Thanks to Mary Bottari, deputy director of the Center for Media and Democracy, and to Public News Service for covering this story.  – RS]

As World Leaders Craft Climate-Change Plan, ALEC Plots Its Downfall

By Mark Richardson | December 8, 2015
ALEC is funded in part by a number of large energy corporations that oppose pollution limits for the nation's power plants. (morguefile.com/Click)
ALEC is funded in part by a number of large energy corporations that oppose pollution limits for the nation’s power plants. (morguefile.com)

SCOTTSDALE, Ariz. – At the same time world leaders gathered in Paris to find a solution for global climate change, another group has been meeting in Arizona to formulate a plan to scuttle their efforts.

Members of the American Legislative Exchange Council met behind closed doors for three days in Scottsdale, in part to develop a game plan to undermine any agreements to limit carbon pollution. According to Mary Bottari, deputy director of the Center for Media and Democracy, ALEC’s members, which include global oil and gas companies and giant utility firms, are planning a full-court press at state legislatures in 2016.

“They actually have model bills rolling back renewable energy. They have model bills rolling back wages, by pre-empting prevailing wages for construction workers, or living wages for other folks,” she said. “So, it’s a very interesting, very ‘retrograde’ agenda.”

Bottari, whose group tracks ALEC and its activities, said ALEC normally pushes its agenda by promoting model legislation to states. However, she said, the group now has moved beyond that to a direct campaign against President Obama’s proposed Clean Power Plan, which calls for a 32 percent cut in carbon emissions across the United States by 2030.

ALEC has organized the attorneys general in 24 states to sue the Environmental Protection Agency in the name of states’ rights. Bottari said they want to block the administration from implementing any plan to limit the types of pollution that most scientists say are man-made contributors to climate change. She said ALEC has some heavyweight players in its corner.

“Giants like Exxon-Mobil and Chevron, and also energy traders like Koch Industries and those kinds of folks,” she said. “These people do not want to see a global climate agreement; they want to continue burning fossil fuels ’til the end of time.”

Even if ALEC can’t stop plans to halt climate change, Bottari said, it hopes to cast doubt on the validity of the science behind them, or delay action on any treaties until after the presidential election.

    Bill Gates gives Exxon cover: The Gates Foundation is deadly wrong on climate change, fossil fuels

    Repost from Salon.com
    [Editor:  Significant quote: “To Bill Gates’ credit he got the equation partly right, when he said that ‘the solution is investment’ in clean energy – a statement he backed up by committing to invest $2 billion in clean energy. However…”  – RS]

    Bill Gates gives Exxon cover: The Gates Foundation is deadly wrong on climate change, fossil fuels

    When Exxon shares your view, time to reconsider. Bill Gates has divestment, clean energy and fossil fuels wrong

    By Alex Lenferna, Nov 7, 2015 08:59 AM PST
    Bill Gates gives Exxon cover: The Gates Foundation is deadly wrong on climate change, fossil fuels
    (Credit: Reuters/Pearl Gabel)

    The Bill and Melinda Gates Foundation, the world’s wealthiest charitable foundation, has been under an unprecedented amount of scrutiny regarding their investments in the fossil fuel industry lately.

    Alongside a persistent and growing local Seattle-based campaign, about a quarter of a million people joined the Guardian in calling on the Foundation to join the $2.6 trillion worth of investors who have committed to divest from fossil fuels.

    In response, Bill Gates has proffered two public rejections of fossil fuel divestment, the most recent in a lengthy interview on climate change in this month’s edition of the Atlantic. Both rejections were based on misleading accounts of divestment which created straw men of the divestment movement, and downplayed the remarkable prospects for a clean energy revolution.

    Activists (and kayaktivists alike) were quick to point out the flaws in Gates’ argument and to highlight that by not divesting Gates is supporting the very industries that are lobbying against climate progress and whose business models are deeply out of line with averting the climate crisis. A disconcerting example of this came when Exxon Mobil endorsed Bill Gates’ view. They did so, furthermore, as part of an article attempting to deny their culpability for intentionally misleading the public about the reality of human-caused climate change, and by extension the risks of its product. Like Big Tobacco before them, Exxon are facing calls for federal investigation under the Racketeer Influenced and Corrupt Organizations Act by no less than Bernie Sanders, Hillary Clinton and more. In order to try and vindicate themselves and justify their deeply problematic position on climate change, Exxon turned to Gates’ views as support.

    Gates’ problematic statements remain the only response a representative of the foundation has given, and for a foundation dedicated to a better world, sharing worldviews on climate change with a corporation implicated in one of the more egregious corporate scandals arguably in human history seems like a poor position to be in.

    Thus, while the Gates Foundation has, of course, done much good work, such a response to divestment and framing of the climate change issue should lead us to question the intentions and motivations behind Bill Gates, the Foundation and its leaders.

    For instance, Warren Buffett, who owns much fossil fuel infrastructure, is the largest donor to the Gates Foundation, with donations of over $31 billion. What role does this play in the Foundation’s unwillingness to divest? Also, does Bill Gates’ chairman role on TerraPower, a nuclear power company, make him more willing to knock down clean energy in order to position TerraPower and their nuclear reactors favorably in the market? After all, the Atlantic interview in which Gates rejected divestment read almost like an advert for TerraPower.

    Divest-Invest: Two Sides of the Same Coin

    To Bill Gates’ credit he got the equation partly right, when he said that “the solution is investment” in clean energy – a statement he backed up by committing to invest $2 billion in clean energy. However, clean energy investments are only part of the equation; if we are to solve climate change, we also need to wind down investments in the fossil fuel industry and related infrastructure, while breaking the fossil fuel industry’s corrupting stranglehold on politics so that we can unlock the sorts of policies, societal changes and investments needed to tackle the climate crisis.

    While Gates claims that divestment is a “false solution” that “won’t emit less carbon” and that there is no “direct path between divesting and solving climate change,” the 2° Investing Initiative (and the International Energy Agency) point out that “divesting from fossil fuels is an integral piece to aligning the financial sector with a 2°C climate scenario,” with reductions in fossil fuel investments of $4.9 trillion and additional divestment away from fossil-fueled power transmission and distribution of $1.2 trillion needed by 2035 if we are to achieve the internationally agreed upon 2°C target.

    It seems that even Peabody, the largest private-sector coal company in the world, has a more enlightened view on divestment than Bill Gates. Peabody have recognized that by shifting perceptions around fossil fuels and spurring on legislation, divestment efforts “could significantly affect demand for [their] products and securities.” Peabody’s conclusion aligns closely with that of the researchers at Oxford University’s Stranded Assets Program, whose influential report on divestment illustrates that the political and social power that divestment builds through stigmatizing the fossil fuel industry could also “indirectly influence all investors… to go underweight on fossil fuel stocks and debt in their portfolios.”

    Contradicting Bill Gates’ claim that divestment “won’t emit less carbon,” the “radical” environmentalists over at HSBC bank recently issued a research report showing that divestment could lead to less fossil fuel production and less carbon emissions. According to HSBC, divestment could help “extend the carbon budget” by creating “less demand for shares and bonds, [which] ultimately increases the cost of capital to companies and limits the ability to finance expensive projects, which is particularly damaging in a sector where projects are inherently long term.”

    The “Miracle” of Clean Energy

    Gates also provided a misleading assessment of the economics of the clean energy transition (seemingly out of the pages of a fossil fuel industry misinformation handbook or his favored climate contrarian adviser Bjorn Lomborg). Gates claimed that the only way current technology could reduce global emissions is at “beyond astronomical cost,” such that a “miracle” on the level of the invention of the automobile was necessary to avoid a climate catastrophe.

      Exxon Mobil Investigated for Possible Climate Change Lies by New York Attorney General

      Repost from the New York Times
      [Editor:  See also the NYT ‘s 11/6 follow-up story, “More Oil Companies Could Join Exxon Mobil as Focus of Climate Investigations.”  – RS]

      Exxon Mobil Investigated for Possible Climate Change Lies by New York Attorney General

      By Justin Gillis and Cllifford Krauss, November 5, 2015
      An Exxon Mobil refinery in Los Angeles, Calif. The New York attorney general is investigating the oil and gas company. Credit T. Fallon / Bloomberg, via Getty Images

      The New York attorney general has begun an investigation of Exxon Mobil to determine whether the company lied to the public about the risks of climate change or to investors about how such risks might hurt the oil business.

      According to people with knowledge of the investigation, Attorney General Eric T. Schneiderman issued a subpoena Wednesday evening to Exxon Mobil, demanding extensive financial records, emails and other documents.

      The investigation focuses on whether statements the company made to investors about climate risks as recently as this year were consistent with the company’s own long-running scientific research.

      The people said the inquiry would include a period of at least a decade during which Exxon Mobil funded outside groups that sought to undermine climate science, even as its in-house scientists were outlining the potential consequences — and uncertainties — to company executives.

      Continue reading Exxon Mobil Investigated for Possible Climate Change Lies by New York Attorney General