{"id":28813,"date":"2017-12-13T07:50:59","date_gmt":"2017-12-13T12:50:59","guid":{"rendered":"http:\/\/olduvai.ca\/?p=28813"},"modified":"2017-12-13T07:50:59","modified_gmt":"2017-12-13T12:50:59","slug":"exxon-to-disclose-the-real-risk-of-climate-change","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=28813","title":{"rendered":"Exxon To Disclose The Real Risk Of Climate Change"},"content":{"rendered":"

Exxon To Disclose The Real Risk Of Climate Change<\/a><\/h3>\n\"XOM\"<\/picture>\n
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ExxonMobil finally conceded to the multi-year campaign by shareholders and activists to disclose its risk to climate change, a notable departure after years of trying to dismiss the issue.<\/p>\n

According to a new filing<\/a> by Exxon to the U.S. Securities and Exchange Commission (SEC), Exxon said that its board \u201chas reconsidered the proposal requesting a report on impacts of climate change policies\u201d by major shareholders at its annual meeting earlier this year. The company will disclose more information regarding \u201cenergy demand sensitivities, implications of two degree Celsius scenarios, and positioning for a lower-carbon future,\u201d the company\u2019s filing stated.<\/p>\n

The pressure from activists and shareholders to disclose more information related to Exxon\u2019s vulnerability to climate change are the latest in a series of headwinds over the past few years, Bloomberg<\/a> writes. The oil supermajor has also had to contend with its inability to find and replace all of the oil and gas reserves that it produces in a given year, and for several years in a row, that reserve-replacement ratio has been under 100 percent, an indication of a declining reserve base.<\/p>\n

Also, Exxon\u2019s total oil and gas production has actually declined in four of the last five years\u2014Bloomberg calculates that Exxon averaged 4 million barrels of oil equivalent per day (boe\/d) in the first nine months of 2017, down from 4.51 mb\/d in 2011. Part of that is because of Exxon\u2019s size\u2014a depletion rate that leads to the erosion of several percentage points from a rather large number is still a large number.<\/p>\n

On top of that, Exxon\u2019s shale activity is only beginning to ramp up, having spent billions to acquire acreage earlier this year. Bloomberg says that these obstacles now have Exxon trading at a discount relative to other energy companies in the S&P 500 Index, the first time that has occurred in 20 years.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Exxon To Disclose The Real Risk Of Climate Change ExxonMobil finally conceded to the multi-year campaign by shareholders and activists to disclose its risk to climate change, a notable departure after years of trying to dismiss the issue. According to a new filing by Exxon to the U.S. Securities and Exchange Commission (SEC), Exxon said […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3,4],"tags":[17481,6010,1729,10116,5332,10698],"class_list":["post-28813","post","type-post","status-publish","format-standard","hentry","category-energy-2","category-environment","tag-climate-change-exxonmobil","tag-nick-cunningham","tag-oil-and-gas-industry","tag-oil-and-gas-production","tag-oilprice-com","tag-us-securities-and-exchange-commission"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/28813","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=28813"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/28813\/revisions"}],"predecessor-version":[{"id":28814,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/28813\/revisions\/28814"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=28813"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=28813"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=28813"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}