Exxon seen warming to emission controls
Worlds largest oil company in on meetings to discuss what restrictions on greenhouse gases should look like in the U.S.
NEW YORK (CNNMoney.com) -- ExxonMobil is said to be in on meetings discussing the potential structure of carbon controls in the U.S., a sign that the company believes curbs on greenhouse gas emissions are looming, according to a news report Thursday.
Exxon (Charts), the world's largest oil company and a longtime skeptic that humans are responsible for global warming, is joining other industries at a series of meetings in Washington and elsewhere to discuss how laws on U.S. carbon control should be written, according to the Wall Street Journal.
Exxon's thinking on global warming has recently become more in-line with those in the scientific community who believe global warming is a human-made reality.
Its current statement on the issue reads "we recognize that the accumulation of greenhouse gases in the Earth's atmosphere poses risks that may prove significant for society and ecosystems. We believe that these risks justify actions now, but the selection of actions must consider the uncertainties that remain."
Exxon has also said it has stopped funding the Competitive Enterprise Institute, a think tank that questioned the premise that humans are largely responsible for causing global warming by burning fossil fuels with ad campaigns like ""Carbon dioxide: they call it pollution; we call it life."
Many countries restrict carbon emissions, notably those that have signed the Kyoto Protocol.
But the U.S. has so far resisted mandatory caps on emissions of the principle greenhouse gas, preferring instead a voluntary system which has not resulted in an overall reduction.
Many say the voluntary system will soon be replaced with some type of mandatory controls, especially now that the Democrats have taken control of Congress.