Exxon Mobil

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Scientist: Exxon Knew of Climate Change in 1981, Lied

'Guardian' explores explosive claims in newly uncovered email

(Newser) - Exxon was ahead of the game on climate change. According to Lenny Bernstein, who spent 20 years there as a climate expert, the company knew about the link between fossil fuels and climate change in 1981—seven years before the issue truly became public. But for the next 27 years,... More »

Christie Rep Settled Exxon Suit for 3 Cents on Dollar

A former state official alleges the office 'cut the deal favorable to Exxon'

(Newser) - It's been quite the legal saga: In 2004, New Jersey's Department of Environmental Protection sued Exxon Mobil over what it said was a century's worth of pollution spewed by two refineries. The state alleged that contamination dating as far back as 1870 at the northern Bayonne and... More »

Exxon CEO Hops on Suit to Stop ... Fracking Activity

Rex Tillerson wants to keep a water tower out of his backyard

(Newser) - Lots of people wouldn't want fracking-related activities taking place near their homes—but when one of those people is the CEO of Exxon Mobil, it raises some eyebrows. The Wall Street Journal last week revealed that Exxon chief Rex Tillerson has joined a lawsuit spearheaded by former House Majority... More »

Carbon Tax Looming, Big Business Gets Ready to Pay Up

Dozens of US companies factoring price into financial plans

(Newser) - First came news that 90 companies are to blame for the majority of greenhouse gas emissions. Now, more than two dozen big US corporations are planning for a future that involves paying for their pollution. A survey by green-data firm CDP shows that 29 companies, including Exxon, Chevron, and Walmart,... More »

90 Companies to Blame for 63% of Global Emissions

Chevron, BP, Exxon racked up 9% alone

(Newser) - Want to personally thank those largely responsible for putting greenhouse gases into the air? Fewer than 100 phone calls will do the trick. According to new research, 90 companies have produced 63% of the emissions of carbon dioxide and methane since the dawn of the industrial age. Chevron, BP, and... More »

Oil-Soaked Birds Turn Up in Arkansas Spill

Smell permeates town as Keystone debate rages

(Newser) - Ten surviving "oiled ducks" and two dead ones have turned up following a pipeline leak in Arkansas , Exxon Mobil says. "I'm an animal lover, a wildlife lover, as probably most of the people here are," says a local judge. "We don't like to see... More »

Exxon Mopping Up Oil Pipeline Spill in Ark.

Critics use accident to slam Keystone XL plan

(Newser) - Exxon Mobil is mopping up an underground pipeline spill that dumped thousands of gallons of oil on an Arkansas town, reports Reuters , as critics are using the accident to again pounce on the Keystone XL pipeline. A leak detected late Friday in Mayflower forced Exxon to shut its Pegasus pipeline,... More »

Exxon Mobil Passes Apple as No. 1 Company

It regains title of most valuable company

(Newser) - Apple's disappointing earnings report has cost it some bragging rights: Thanks to declining stock shares, the company had a market value of $412.7 billion as of midday. That means Exxon Mobil regains the title of "world's most valuable company" at $417.5 billion, the AP reports.... More »

Top 10 Companies for 2013

Apple, of course, makes forecasters' list, along with Pfizer, Walmart

(Newser) - The prognosticators at 24/7 Wall Street are out with their annual predictions on which companies will be the most profitable in 2013. And, yes, Apple is expected to retain its No. 1 spot—by a wide margin. Here is the forecast with expected 2013 earnings, via MarketWatch .
  • No. 1: Apple,
... More »

Exxon Mopping Up New Oil Spill

80K gallons spilled from Louisiana pipeline over weekend

(Newser) - Amid reports of eyeless shrimp in the Gulf of Mexico, some good news for BP: There's a new oil spill, and it's not theirs. Rather, Exxon Mobil is cleaning up about 80,000 gallons of oil that spilled from a pipeline in rural Louisiana. The company says the... More »

Exxon Valdez Sold for Scrap

For some $16M

(Newser) - Decades after it caused the then-biggest oil spill in US history, the Exxon Valdez is finally being put out to pasture. The ship, which was renamed the Oriental Nicety after its brush with infamy, has been sold to Maryland-based Global Marketing Systems for $16 million, Bloomberg reports. Global Marketing Systems... More »

Exxon Strikes Deal With Russia for Arctic Drilling

Company teams with state-owned Rosneft for exploration

(Newser) - Exxon Mobil scored a major coup in the search for Arctic oil today, signing a deal with Russia to explore areas with state-owned Rosneft, reports Reuters . The deal gives Exxon access to spots controlled by Moscow in the Kara Sea, which has become a much sought-after region within the petroleum... More »

Yellowstone Waters Swell as Oil Spill Spreads

Exxon admits contamination beyond 10-mile zone

(Newser) - Exxon Mobil's Montana oil spill cleanup faces a big hurdle today as the swollen Yellowstone River peaks at Billings this afternoon. The rising water means that areas already cleaned may be re-contaminated, and the AP reports that Exxon officials acknowledged under fire yesterday that the scope of the... More »

Pipeline Rupture Spills Crude Into Yellowstone River

Up to 42,000 gallons of oil heading toward Missouri River

(Newser) - Up to 42,000 gallons of oil from a ruptured pipeline in Montana is surging through a flood-swollen Yellowstone River, creating an environmental mess that is threatening to reach the Missouri River, reports the Wall Street Journal . The Exxon Mobile pipeline, which runs under the Yellowstone River to a refinery... More »

Exxon Discovers Huge Oil Field in the Gulf

Company expects to get 700M barrels

(Newser) - Exxon announced the discovery of two oil wells and a natural gas deposit in the deep water of the Gulf of Mexico that could collectively contain 700 million barrels. Two of the finds had been made in 2009 and 2010, but the company waited until today to unveil the amount... More »

How Much Tax Does Big Oil Actually Pay?

It comes down to how you crunch the numbers

(Newser) - If you ask Exxon Mobil, the firm will say last year’s taxes exceeded US income—but a Washington think tank will tell you the big oil company didn’t pay a cent the year before that. “It all depends on how you count,” writes Steven Mufson in... More »

Walmart Rules Fortune 500 List

Editors see huge disparity between businesses, ordinary Americans

(Newser) - Turns out, last year was a pretty good one for US businesses. Total revenue for Fortune 500 companies jumped 10.5% to $10.8 trillion, while profits surged 81%. "We've rarely seen such a stark gulf between the fortunes of the 500 and those of ordinary Americans,"... More »

Exxon Scores $11B in Profits

It's oil giant's best quarter since 2008

(Newser) - Gas prices are soaring, and so are Exxon Mobil's profits. The oil giant raked in $10.65 billion in profits in the first quarter of 2011, its best performance since the gas price spike of 2008. The $2.14-per-share profit well exceeded analysts' $2.04 estimates, the AP reports.... More »

Exxon: Oil Becoming Hard to Find

Company slowly shifting to gas as oil fields tap out

(Newser) - Exxon Mobil Corp. is having trouble finding more oil, it revealed yesterday in its earnings call. The company said it was depleting its reserves, replacing only 95 out of every 100 barrels it pumps. Though it tried to put a positive spin on things by saying it had made up... More »

Oil Spill Judge Dumped His Energy Stocks

Feldman sold many while hearing case on drilling moratorium

(Newser) - The Louisiana federal judge who struck down a six-month ban on deepwater oil drilling has sold many of his energy investments, a financial disclosure report released yesterday reveals. US District Judge Martin Feldman's disclosure report, which covers investments for 2009, shows he owned eight energy-related investments including stock in Exxon... More »

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