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Environmentalists lash out at Exxon
Activist group fighting for clean fuel alternatives to help stop global warming accuses Exxon of putting profits before the environment.
By Keisha Lamothe, CNNMoney.com contributing writer

NEW YORK (CNNMoney.com) -- Exxon Mobil was accused of putting the bottom line ahead of environmental concerns on the day the oil behemoth announced its second best quarterly profit ever.

The activist group, Exxpose Exxon, a group that says it's dedicated to informing and educating people about Exxon (Charts) Mobil's efforts to prevent action on global warming, said the company will continue to break records until consumers are given energy alternatives during a conference call Thursday.

Surging oil prices helped the No. 1 U.S. oil company post a near record high of $10.4 billion in the second quarter almost reaching the record high of $10.7 billion last year.

Exxpose Exxon, a coalition of some of the nation's largest environmental and public interest advocacy organizations, says the company has repeatedly questioned the seriousness of global warming and actively opposes efforts to cut global warming pollution.

"Exxon wants to preserve [its] market by not doing anything about global warming," said Shawnee Hoover, campaign director, on the conference call.

However, an Exxon Mobil spokesperson told CNNMoney.com that it recognizes the accumulation of greenhouse gases in the Earth's atmosphere poses risks which may prove significant for society and the Earth's ecosystem and says the company is taking action to address these risks.

But Exxon also said that investing in renewable energy technologies, apart from ethanol, is not part of its plan.

"There are very few [renewable energy resources] that are economical without subsidies," said Henry Hubble, vice president for investor relations, on a conference call Thursday. "We don't think it makes sense to invest in it at this point."

July marks the first full year of the Exxpose Exxon campaign, and the group says its membership has grown to 500,000 since January.

"There's a giant sitting in the middle of the road that needs to be moved," said Cert Davies, research director of Green peace. "Exxon, being the giant."

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Related: Exxon Mobil makes over $10 billion  Top of page

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