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ExxonMobil Fights Off Call To Invest In Oil Alternatives
Steve McGookin
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5-29-2008 5:40 PM
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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/ace9dacc-5a4d-49c7-99f4-95713b530330/F1BD0BD1-CB6B-47A7-8AC7-C5A6637276D3/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.independent.co.uk/news/business/news/exxonmobil-fights-off-call-to-invest-in-oil-alternatives-835947.html" href="http://www.independent.co.uk/news/business/news/exxonmobil-fights-off-call-to-invest-in-oil-alternatives-835947.html" style="font-size: 11px;">www.independent.co.uk</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.independent.co.uk/news/business/news/exxonmobil-fights-off-call-to-invest-in-oil-alternatives-835947.html"><P>The boss of ExxonMobil said sky-high oil prices would only start to come down when demand eased but he warned that the world would be reliant on fossil fuels for generations to come, "whether people like it or not". And Exxon itself would remain a petrochemical company, he insisted, after beating back dissident investors' proposals which demanded that Exxon plough money into alternative energy, including wind and solar power.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.independent.co.uk/news/business/news/exxonmobil-fights-off-call-to-invest-in-oil-alternatives-835947.html">Mr Tillerson's victory came despite an intense public campaign by the descendants of John D Rockefeller, the legendary oil magnate whose 19th-century monopoly, Standard Oil, ultimately spawned ExxonMobil. </blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.independent.co.uk/news/business/news/exxonmobil-fights-off-call-to-invest-in-oil-alternatives-835947.html">Michael Crosby, a dissident shareholder supporting the Rockefellers, predicted that "ExxonMobilsaurus Rex will disappear" if it does not change course.</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;"> </td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/F1BD0BD1-CB6B-47A7-8AC7-C5A6637276D3/blog/" title="blog or email this clip"><img src="http://content7.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>
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