Rex Tillerson Comments

Jigar Shah just pointed to an industry publication ( that discusses recent comments by Exxon CEO Rex Tillerson at a shareholders meeting.

Tillerson was asked about Exxon’s position on global warming compared to other oil companies. He said:

No thank you, that would not be us…We’re not going to be disingenuous about it. We’re not going to fake it. We’re going to express a view that we have been very thoughtful about. We’re going to express solutions and policy ideas that we think have merit.

The article then goes on to show that all this talk of global warming is just an evil leftist conspiracy of radicals like Obama and the United Nations. And they applaud Tillerson for his powerful resistance to said conspiracy, which they expect to “surmount the opposition” to the oil and gas industry.

It is only natural that the oil industry would not like getting attacked for causing global warming. Nobody likes to get told that they are responsible for ending civilization.

And while Bill McKibben and Rex Tillerson disagree about global warming, they agree that they are not allies. McKibben sees the oil industry as an enemy to fight. Rex Tillerson and his “” supporters see McKibben as a deluded leftist radical, the opposition of which needs to be “surmounted”.

On that point, I disagree with both of them. The oil industry should stop fighting global warming countermeasures. That’s because Exxon and its shareholders will profit massively once a cap is put on oil supply (Phaseout Profit Theory).

If Phaseout Profit Theory is correct (I have still not heard any convincing reason against it), Exxon should join Bill McKibben’s effort. Their deep pockets and’s enthusiasm and activist power combined would be a rather powerful force.

If that happens, a lot of things would change in the political landscape.

Published by kflenz

Professor at Aoyama Gakuin University, Tokyo. Author of Lenz Blog (since 2003,

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