A slight nostalgic trip back to Black Energy today. The Forbes Global 2000 puts HSBC Holdings (financial services company from the UK) at #1, General Electric #2, Exxon Mobile #5, Wal-Mart #16, and General Motors at #573. The Fortune Global 500 lists Wal-Mart Stores as the largest corporation, followed by nine oil and automobile companies. Exxon Mobil is #2, General Motors #5 and Toyota #6. So what is big has to be defined.
Exxon set new records in 2007 and made a profit of $40.6 billion. The first quarter of 2008 also broke a record. General Motors lost $38.7 billion in 2007, but only $3.3 billion in the first quarter of 2008. In 2004, GM’s VP for Product Development Robert Lutz claimed that hybrid compacts like the Toyota Prius was bad for business, and the company had no plans for similar cars. In 2007 Toyota overtook GM as the world’s biggest carmaker. Oh, Lutz was promoted to Vice Chairman of Global Product Development, and was quoted by D Magazine as referring to global warming as a “total crock of sh*t.” He was unrepentent.
The CEO of Exxon Mobil is Rex Tillerson. He is the last of the brontosaurs, but possibly because he also has the mind of the fox with a growing bank account. While BP is now “Beyond Petroleum” and other oil companies proclaim their greenness, Tillerson is resolute in saying that EM is all petroleum. Exxon derived from John D. Rockefeller’s Standard Oil, so it is only appropriate for Senator Jay Rockefeller to wonder why EM remained so anti-environment and pro-fossil. He was embarrassingly rebuffed by Tillerson. So Rockefeller's people attempted to strip Tillerson of the chairman’s job, but ended up gaining only 39.5% of the votes this week.
Exxon set new records in 2007 and made a profit of $40.6 billion. The first quarter of 2008 also broke a record. General Motors lost $38.7 billion in 2007, but only $3.3 billion in the first quarter of 2008. In 2004, GM’s VP for Product Development Robert Lutz claimed that hybrid compacts like the Toyota Prius was bad for business, and the company had no plans for similar cars. In 2007 Toyota overtook GM as the world’s biggest carmaker. Oh, Lutz was promoted to Vice Chairman of Global Product Development, and was quoted by D Magazine as referring to global warming as a “total crock of sh*t.” He was unrepentent.
The CEO of Exxon Mobil is Rex Tillerson. He is the last of the brontosaurs, but possibly because he also has the mind of the fox with a growing bank account. While BP is now “Beyond Petroleum” and other oil companies proclaim their greenness, Tillerson is resolute in saying that EM is all petroleum. Exxon derived from John D. Rockefeller’s Standard Oil, so it is only appropriate for Senator Jay Rockefeller to wonder why EM remained so anti-environment and pro-fossil. He was embarrassingly rebuffed by Tillerson. So Rockefeller's people attempted to strip Tillerson of the chairman’s job, but ended up gaining only 39.5% of the votes this week.
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Is this the kind of leadership our country needs? Amen. Tomorrow, more Green Energy.
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Hey, oil is crashing, and sits at $126.39 at this writing. Will we see $100/barrel again?
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