ExxonMobil's 2nd Quarter Earnings: Good 4 Exxon, Bad 4 US

WASHINGTON, July 28 /PRNewswire/ -- Today, ExxonMobil, the world's largest and most profitable private oil company, announced its 2nd quarter earnings -- a windfall for ExxonMobil, but not for America. Instead of using the $7.84 billion in earnings to move the world toward a more sustainable energy future, ExxonMobil will spend millions of it on lobbyists and pseudo-scientists working to cast false doubt on the facts of global warming, and millions more lobbying to drill in America's most pristine wilderness areas, including Alaska's Arctic National Wildlife Refuge.

Based on its track record, ExxonMobil will not use its profits to promote renewable energy and fuel efficiency, or pay the $4.5 billion in punitive damages to the Alaskan communities injured by the Exxon Valdez oil spill.

"It's becoming increasing clear that, from an environmental standpoint, what's good for ExxonMobil economically is not good for America," said Dr. James Barrett, Economist and Director of the Sustainable Economics Program for Redefining Progress. "The price for Exxon's policies, which offer no alternatives to America's oil dependence, hurts our families, our nation's businesses, and the environment as a whole."

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