Exxon Denies Climate Change While Benefiting from it

Another upsetting, yet not especially surprising example of big oil protecting big money. Large oil company Exxon has been denying climate change for over two decades, arguing that the role "of greenhouse gases in climate change is not well understood,”.  Convenient, for a company whose public image depends largely on climate change skepticism.

 

It turns out however that since 1992, the company has been factoring global warming into their arctic operations, according to the Los Angeles Times’ analysis of hundreds of Exxon internal and published documents. 

 

While minimizing the possibility that the earth is in fact warming due to human behaviours, Exxon has been reaping the benefits of global warming, as higher temperatures and therefore decreased ice cover at the polar caps creates easier working conditions for the company to look for crude oil. This means that drilling in the Arctic is becoming far more cost and time-efficient, which in turn means more oil-drilling. 

According to Exxon's website:

"Our views and principles on managing climate change risks

Keeping in mind the central importance of energy to economies of the world, ExxonMobil believes that it is prudent to develop and implement strategies that address the risks to society associated with increasing GHG emissions."