What does ExxonMobil get its money from the AEI? Economist Benjamin Zycher, a cheerleader for fossil fuels, claims – contrary to the company`s stated positions on climate – that a carbon tax would be “ineffective” and called the Paris agreement “absurd”. “Exxon and Chevron continue to make lip service statements about the goals of the Paris Agreement, while failing investors to determine whether or how they will reduce their emissions in accordance with the Paris Agreement,” said Danielle Fugere, president of As You Sow, a nonprofit that advocates on bees of shareholders. What does ExxonMobil get for its money? Among other legal actions, the business lobby is suing the Environmental Protection Agency (EPA) and the Public Opinion Tribunal, funding false climate reports. A perfect example is the widely unveiled 2017 House report, which grossly exaggerated the cost to the U.S. economy by adhering to the Paris climate agreement. President Donald Trump cited the report as his main reason for ignorance of america`s commitment to the deal, and vowed to formally withdraw the U.S. in early November. And breaking with President Trump, Exxon supports the 2015 Paris climate agreement, which is supposed to limit global warming to 2 degrees Celsius this century. The company also supports federal regulation of methane emissions as the Trump administration cracks down on rules put in place under President Barack Obama to stop leaks of this powerful greenhouse gas from oil exploitation.
The U.S. Virgin Islands Attorney General agrees to withdraw his summons from Exxon after Exxon sued the U.S. territory for violating first and fourth amendment rights. The agreement does not prevent the U.S. Virgin Islands from convening Exxon in the future. Exxon had also sued the Massachusetts Attorney General`s Office on similar arguments, but Massachusetts continues to fight the lawsuit. Roger Cohen, director of Exxon`s Laboratory of Theoretical and Mathematical Sciences, writes a memo in which he summarizes Exxon`s climate modeling research. According to the memo, “the consensus is that a doubling of atmospheric CO2 from its pre-Industrial Revolution value would result in an average increase in global temperature (3.0 ± 1.5°C [or 5.4 ± 1.7°F]. The scientific community agrees that a temperature rise of this magnitude would lead to significant changes in Earth`s climate, including the distribution of precipitation and changes in the biosphere. Cohen later became a leading climate science denier to an Exxon-funded front group.