Are the Proxy Activists Doing Exxon a Favor?
Perhaps the shareholders know best, and Exxon Mobil Corp. should realize that the future must involve less use of fossil fuels to help our planet remain hospitable to human life. The reason these decisions seem so difficult for companies is that the market doesnt reflect the correct price for fossil fuels. We currently dont pay for the cost of climate change when we buy fossil fuel or products that use it. A price on carbon can fix this inequity, allowing all people and businesses to make the better choice. Everyone will then find it easier to reduce use of fossil fuels while still making decisions that make sense for stockholders.