Ignoring Climate Warnings for Profit Is Bad Business Policy

EDITORIAL_Yesterday’s PBS report outing Exxon’s deliberate ignoring of its own scientists’ warnings in 1977 that carbon dioxide was increasing in the atmosphere and that the burning of fossil fuels was to blame shines a harsh spotlight on Exxon. In particular, it puts Exxon’s entire credibility in question, especially considering its very robust efforts to cast doubt that climate change exists and that the human activity of burning fossil fuels is to blame.

“In 1978, the Exxon researchers warned that a doubling of CO2 levels in the atmosphere would increase average global temperatures by 2 to 3 degrees Celsius and would have a major impact on the company’s core business,” the report said.

While it may be human instinct to protect one’s income source, to knowingly continue to operate in a way that harms the planet that sustains human life is just not wise. To have taken a defensive stance or have been in denial initially might be understandable. To continue to insist that fossil fuels’ emissions are not contributing to climate change in light of self-initiated evidence for 38 years is reprehensible, and more to the point, dollar-foolish.

The repercussions may be massive.

Exxon would have been far wiser to answer Theodore Leavitt’s famous probe: What business are you really in? The energy company should have taken advantage of the knowledge its scientists relayed to progress to formulating a plan to be part of the Clean Energy Economy.

Some on the Exxon internal research team recognized the findings as an opportunity for the company to emerge as an industry leader. “This may be the kind of opportunity that we are looking for to have Exxon technology, management and leadership resources put into the context of a project aimed at benefitting mankind,” Harold N. Weinberg, an Exxon manager, wrote in a March 1978 internal memo, according to the article.

Needless to say, Exxon’s credibility in climate change discussions is seriously dissolved.

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