Word: stuewer
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...responsible for the Bush Administration's refusal to sign on to the 1997 Kyoto Protocol, which sets targets for reducing pollution that causes global warming. "We do think there is a risk of climate change, but there are much better approaches to making progress than mandatory caps," says Sherri Stuewer, Exxon's vice president of safety, health and environment...
Exxon shareholders are mostly on Raymond's side. The boss, after all, has delivered on profits 10 years running --to the tune of $25 billion in 2004 alone."We don't think the technology for renewables--whether solar or biomass--can support a profitable business," says Stuewer. Electricity generated by solar, she notes, is five times as expensive (for now) as that produced by gas or coal. Exxon is investing in Stanford's Global Climate and Energy Project, she says, to develop breakthroughs in solar, biofuel, hydrogen and even coal technologies that could be offered cheaply and profitably to developing...
...wrong, then, about its bet on going green? Exxon is a fuel company, while GE makes "devices," says Stuewer. And therein lies the crux of their differences. Exxon did toy with alternative-energy technologies--most notably with solar in the 1970s--but failed miserably. "Who was brought in to clean it up? Lee Raymond. He sold it all off," says Ed Ahnert, who retired last December as president of the ExxonMobil Foundation. "He learned you stick to what you know best...
...John Stuewer...
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