Despite Climate Warnings, Exxon Plans to Burn Through Oil and Gas Reserves

On the same day that the U.N. Intergovernmental Panel on Climate Change (IPCC) released its new report warning that global warming will raise the risks of a host of potentially costly and deadly consequences, from sea level rise to food supply disruptions, Exxon Mobil Corp. released its own set of climate reports

As one might expect from the world’s most profitable corporation and one of the largest oil companies, Exxon’s documents, published Monday, struck a different tone from the IPCC

Exxon’s reports to its shareholders amount to an unprecedented disclosure of how the company views its risk exposure to climate change, specifically to potential greenhouse gas emissions reduction mandates that would curb oil and gas use between now and the year 2040. The company told its shareholders — some of whom spent years trying to get the company to disclose its climate-related risks — that it does not need to plan for aggressive carbon emissions cuts before 2040, because governments are unlikely to impose such expensive regulations Read more...