image source: http://finance.rol.ru/
During our presentation on ExxonMobil today, we talked about an article from The Wall Street Journal discussing the recent shift in ExxonMobil’s attitude – away from denying that climate change is on its way and that it is caused by humans, especially by CO2 emissions. Now, ExxonMobil acknowledges that there is reliable information on the negative effect of CO2 emissions on global warming. As a result, ExxonMobil has already stopped funding the Competitive Enterprise Institute that ran several TV spots last year claiming that CO2 emissions are actually helpful for us and the environment.
The article claims that the main reason for ExxonMobil’s sudden awakening is the fear of future US government regulations. By softening their position now, they might have the chance to shape the regulation so that they get away with as little economic damage as possible.