Source: ExxonMobil Should Not Exist | The New Republic
On Monday, Bloomberg reported that multinational oil company ExxonMobil has recently planned to increase its carbon dioxide emissions 17 percent by 2025 while doubling its earnings. According to internal documents obtained by Bloomberg reporters, the company’s seven-year, $217 billion investment plan would see it expand its core oil and gas business and keep its investments in low-carbon fuel and emissions reductions as a sliver of overall spending. That 17 percent projection only accounts for the company’s operations, not the emissions generated when customers burn the fuel it sells, known as “Scope 3” emissions. According to Bloomberg, these projections were circulated as late as early this year, before Covid-19 settled over the energy sector.
ExxonMobil is also the company that Inside Climate News found sponsored cutting-edge research into climate science dating back to the 1970s, and proceeded for decades to fund climate deniers to cast doubt on global warming, despite knowing full well the threat that it posed. There’s a tempting story to be told about all this: that a small clique of diabolical fossil fuel interests long ago plotted to deny the reality of global warming. First through denial and then through delay, the same companies have spent decades and billions of dollars obfuscating the truth about the crisis, using advertising and lobbying campaigns to waste time that humanity will never get back.
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