Exxon isn't budging on emissions stance

May 31 - Houston Chronicle - To the chagrin of some institutional investors and a few dozen protesters, Exxon Mobil Corp. shareholders voted Wednesday to keep the world's largest oil company focused on fossil fuels, rejecting proposals to set targets for greenhouse-gas emissions cuts and to move aggressively into alternative energy.

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. Read More.