Environmental groups expressed guarded optimism Thursday that the management succession at Exxon Mobil Corp. may lead the oil company to taking a proactive role in protecting the planet.
NEW YORK — Environmental groups expressed guarded optimism Thursday that the management succession at Exxon Mobil Corp. may lead the oil company to taking a proactive role in protecting the planet.
But the fact that the heir apparent has the full support of the financial community, which expects him to run the company in the same way as his predecessor, has some critics of Exxon dismissing the chances of any real change.
Exxon, the world's largest public oil company, said Thursday CEO Lee Raymond would retire at year-end. Environmentalists revile the no-nonsense Raymond for his refusal to compromise on their issues, and for his stances minimizing the effects of global warming and the benefits of renewable energy.
"You couldn't imagine anyone worse on the issue of climate change than Lee Raymond, so there's really nowhere to go but up with his successor," said Andrew Logan, oil program manager at CERES, a coalition of institutional investors and environmentalists.
Raymond is set to be replaced by Rex Tillerson, the company's president. Activist groups said they were hopeful he would be more open to discussing issues of climate change and global warming than his predecessor.
"We're keeping an open mind about (Tillerson). We're hoping that he will go along with his colleagues at the other oil and gas companies and be more amenable on these issues," said Athan Manuel, director of the Arctic campaign for the U.S. Public Interest Research Group.
Though many groups have many quibbles with Exxon, at the top of most lists is the ongoing impact of the 1989 Exxon Valdez disaster in Alaska, when an oil tanker spilled a third of its contents in Prince William Sound.
Exxon has paid more than $3 billion in cleanup costs, fines and damages since the spill, but is still contesting billions of dollars in awards.
"One can only hope that he would want a part of his legacy to be a resolution of the Exxon Valdez damages," said Rick Steiner, professor in the University of Alaska's marine science advisory program and an environmentalist very active in Prince William Sound restoration issues.
But those on the ground in the affected areas held out little hope upon hearing the news of Raymond's retirement that things would change.
"I expect them to continue their strategy in litigation. They'll just be in first place when it comes to money and in last place when it comes to being responsive," said RJ Kopchak, a fisherman from the Prince William sound village of Cordova, who also heads a local office for Ecotrust, a West Coast environmental organization.
Either way, environmental groups recognize that Raymond in particular has not been bothered by their criticism of him, no matter how long or how loud.
"I don't imagine he gives a rat's patootie what we have to say about him," said Dave Hamilton, director of global warming and energy programs at the Sierra Club.
(With additional reporting by Yereth Rosen in Anchorage and Michael Erman and David Brinkerhoff)
Source: Reuters
