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Rex Tillerson, ExxonMobil CEO
He also addressed fears associated with drilling techniques and oil dependency

ExxonMobil's CEO defended oil and gas drilling by saying that climate change is something humans can adapt to.

Rex Tillerson, ExxonMobil CEO, said issues like climate change, energy dependence and oil/gas drilling are blown out of proportion. He blames a lazy press, illiterate public and fear-mongering advocacy groups for the bad light placed on the oil industry.

Climate change is a controversial topic that has been subjected to much debate. Tillerson said that fossil fuels may cause global warming, but argued that humans can easily adapt to the warmer climate. More specifically, he said that humans can adapt to rising sea levels and climate changes because he doubts the validity of climate modeling, which predicts the magnitude of impact associated with climate change.

"We have spent our entire existence adapting," said Tillerson. "We'll adapt. It's an engineering problem and there will be an engineering solution."

Others, however, disagree with Tillerson's assessment. Andrew Weaver, chairman of climate modeling and analysis at Canada's University of Victoria, said that adapting to climate change would be much harder than just preventing it in the first place.

In addition, adapting to climate change could be much more expensive than preventing it. According to Steve Coll, author of "Private Empire: ExxonMobil and American Power," adapting to climate change would require moving entire cities. A better alternative would be legislation that slows the process of global warming.

An example of such a measure is the proposed fuel standards for 2017-2025, which will require automakers to create vehicles capable of 54.5 MPG by 2025. The effort aims to reduce greenhouse gas emissions and lessen the country's dependency on foreign oil. These standards will cost the auto industry $157.3 billion and add an extra $2,000 to the sticker price of new autos, but it will save consumers $1.7 trillion at the gas pump.

The National Highway Traffic Safety Administration (NHTSA) will finalize the fuel efficiency standards by the end of July 2012. Such measures could hit ExxonMobil's wallet with less gas used.

Tillerson also addressed the topic of consequences related to oil/gas drilling techniques, saying that drilling will always present possible risks like spills and accidents. But he mentioned that such risks are manageable and worth the end result, which is the energy provided.

Tillerson also said that drilling in shale formations doesn't pose life-threatening risks to those living nearby. However, drilling mixes millions of gallons of water with sand and chemicals that creates drilling wastewater. If this water is not treated, it can contaminate drinking water through cracked drilling pipes.

Tillerson also mentioned his problem with views on oil dependency. He said that there will always be access to oil, and that it doesn't matter where the U.S. gets oil because it is priced globally. Tillerson added that the U.S. only receiving oil from North America would still increase gas prices in the U.S. because it would cause a "disruption" in the Middle East.

Source: The Hook

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By EricMartello on 6/30/2012 9:20:48 PM , Rating: 2
Even just sitting on that money is a smarter investment than simply gifting it to some overpaid douche bag at the top of the pyramid. Of course, smarter managers would try to invest or reinvest as a first priority, or at least if no good investment opportunities are evident, share the company's profits more evenly across the company's work force and/or shareholders.

Yeah man, losing 2.7% per year and accomplishing nothing is smarter than reinvesting it or paying it to someone who will use it to fund other projects.

People who earn $25 million or more per year tend to be much more productive members of society since their money is always doing something, something like creating decent jobs and opportunities for people. You don't get to that kind of level without taking risks, unless you're born into it...but even if you start out on top, being on top isn't the hard part - it's staying there that is the real challenge.

The pool of people qualified to run a company like ExxonMobil isn't exactly overflowing and the pay reflects that. Your notion that pay should simply be "profit divided by number of employees" is purely asinine - employees are assets and assets have a "market value". The market value of a "hard working floor sweeper" is lower than that of a somewhat-lazy but efficient software coder. That's why people earn what they're worth.

Nothing should ever be given away to someone in business. If you want to get a head you make the necessary connections and take the right steps to get there...but you and people like you, who just want to whine that it's not fair, really should consider relocating to Sweden - the ultimate welfare state.

As opposed to lobbing wife-beater insinuations

That really has no context at all in this discussion...but if I was as dumb as you are I'd probably be living in a trailer with a wife I beat after I get mad that I lost the daily lottery again.

Oh, did this just get too real for you? I hope I didn't hit too close to home.

One such idiot's name was Ronald Reagan. One Richard Cheney was another such idiot of notable prominence, up to quite recently even.

Trickle down economics doesn't work because poor people are poor due to them being fck1ing morons, not because a lack of availability of money. They are given opportunity after opportunity to better themselves, but they do not because they are not much more evolved than the chimps you see at the zoo.

Also, it would be bad for democrats if the poverty level dropped below 10% because they'd lose the majority of their voter base and risk being ousted from government altogether...that's why democrats are often happy to keep these social parasites on the welfare treadmill at the expense of anyone who works or runs a business - aka not you.

Yes, that must be it.

OTOH, in my experience the higher you move up a corporate hierarchy, the more you find yourself competing against unscrupulous manipulators and ladder climbers who have no problem lying, cheating, and stepping on the necks of their colleagues if it gets them up to the next rung. I will never be one of those people. I'm not sufficiently sociopathic... And I'm just fine with that.

How about you?

You don't know what you are capable of if you don't try. You're already comfortable spreading lies about the state of our planet and the fraudulent science pushing their eco-terror agenda on a public forum...are you mad that you're not getting paid for it?

The sweet irony here is that your likely champions and heroes, greenpeace, those whale humpers, obama...all earn millions of dollars by duping people like you into becoming one of their acolytes.

A coin may have two sides but it only has one value.

"The Space Elevator will be built about 50 years after everyone stops laughing" -- Sir Arthur C. Clarke

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