Bending the Third Rail
Because We Should, We Can, We Do
Thursday, June 01, 2006
Raymond's Legacy
Lee Raymond, the chief executive of Exxon Mobil, has bowed out from the oil giant with a $400m pay and retirement deal that has caused outrage. We all know that now. More tidbits about Raymond:
—Since becoming chief executive in 1993, Mr Raymond had become infamous for his dismissive response to environmental lobbyists at previous annual meetings. He has funnelled $19m of Exxon's money to groups that question the science of global warming. His package of pension and perks includes a bodyguard, a car and driver, and use of a company jet, plus a $1m-a-year deal to stay on as a consultant.
—Mr Raymond routinely accuses advocates of a link between global warming and carbon emissions of practising fuzzy science. His first action as a senior executive was to cut solar and other alternative energy programmes because they did not seem likely to make money for decades.
And his successor won't change things much. The company still argues that the link between emissions and global warming rests on the assertion of expert scientists rather than on robust scientific models. "The level of misinformation only makes it more important to discuss the massive scale of our industry and the meaningful alternatives available in the foreseeable future."
Full article here. Boycott Exxon.