Surfrider Foundation

Not the Answer


February 2nd, 2010

How much are you paying Exxon Mobil?

Source: Environmental Law Institute (.pdf)

Last night while heading home from work I heard on the radio that America’s biggest company Exxon Mobil’s 4th quarter profits were down 23% to a measly $6 billion. Before you start feeling too bad for them remember that in 2008 when oil prices rose to $100 barrel, Exxon Mobil became the world’s most profitable corporation with earnings over $45 billion.

What’s amazing to me is that despite these incredible profits, we continue to subsidize these hugely profitable and highly polluting companies.

The graph above makes is pretty clear that part of

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the transition from carbon-based fossil fuels to renewables will require that we stop subsidizing the most profitable and polluting companies and move that support to renewable energy sector.

Posted by Surfrider Foundation at 2:30 pm

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