SO

April 5, 2018 1:43 PM

The (Descendants Of John D.) Rockefeller vs Exxon, The (Descendant) Of Standard Oil

The Rockefeller Family Fund vs. Exxon

Earlier this year our organization, the Rockefeller Family Fund (RFF), announced that it would divest its holdings in fossil fuel companies. We mean to do this gradually, but in a public statement we singled out ExxonMobil for immediate divestment because of its “morally reprehensible conduct.” For over a quarter-century the company tried to deceive policymakers and the public about the realities of climate change, protecting its profits at the cost of immense damage to life on this planet.

Our criticism carries a certain historical irony.

The Rockefeller Family Fund Takes on ExxonMobil

In the first part of this article, we described recent reporting that ExxonMobil’s leaders knew humans were altering the world’s climate by burning fossil fuels even while the company was helping to fund and propel the movement denying the reality of climate change. Ever since the Los Angeles Times and InsideClimate News started publishing articles showing this in late 2015, ExxonMobil has repeatedly accused its critics of “cherry-picking” the evidence, taking its statements out of context, and “giving an incorrect impression about our corporation’s approach to climate change.”2 Meanwhile, New York Attorney General Eric Schneiderman is one of several officials who have been investigating whether the company’s failures to disclose the business risks of climate change to its shareholders constituted consumer or securities fraud.

A Rockefeller explains: Why I lost faith in Exxon Mobil, and donated my shares

posted by the man of twists and turns (5 comments total)

NYC set to divest from fossil fuel
posted by The Whelk at 1:58 PM on April 5, 2018 [1 favorite]

Tangential: I remember Esso stations being changed to Exxon when I was a kid; the rumored reason being that "esso" meant "dirty carburetor" in some other language (sort of like the Chevy Nova reportedly not selling well in Spanish-speaking countries because "no va" meant "doesn't go"). I hadn't thought of that since, I don't know, 6th grade or something; I only bring it up now because this post reminded me of it. Wikipedia does not support that premise, however.

OK, done derailing, I gotta go swap out the onion on my belt.
posted by Greg_Ace at 3:37 PM on April 5, 2018

God I really need to quit driving my car.
posted by gucci mane at 3:41 PM on April 5, 2018 [1 favorite]

I worked for the Rockefeller family for a short while around 12 years ago, my office was very close to one main family guy who was pressuring the board of Exxon to invest in sustainable. I understood his family owned about 10% of the stock, but I could have that wrong, and I don't remember his name.

I admired him. I wasn't his friend, but we'd say hi around the copier when working late, he was often in the office late, and a very nice and thoughtful guy.
posted by sfts2 at 4:03 PM on April 5, 2018 [5 favorites]

A recent study found that Republicans identify with Exxon more than any other brand — Democrats see themselves most in Starbucks

Sounds about right.
posted by clawsoon at 5:27 PM on April 5, 2018 [1 favorite]