AP story 3/31/14
Exxon: Highly Unlikely World Limits Fossil Fuels
NEW YORK — Exxon Mobil says that global policies to combat climate change won't
be strict enough to stop the company from selling all of the oiland gas it has
found — and all that it will find in the foreseeable future, It says the fuels
are too important for global economic development.
Exxon issued a report Monday on the risks that climate change policies could
pose to the company's assets and future profitability in response to
shareholder concerns that the assets that underpin the company's value will be
worth less as society restricts consumption to fight climate change.
Exxon's report, the first detailed response to these concerns by a major oil
company, says governments are "highly unlikely" to adopt policies that sharply
cut emissions because they would choke economic growth.
Time to focus on reducing -- with economic justice -- consumption. To me that
means, and can only mean, a sharp cut in the work week with no cut in pay.
Gene
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