For Immediate Release:
May 31, 2017
E&E Legal Senior Policy Fellow Steve Milloy to Present Shareholder Proposal at Today’s ExxonMobil Annual Meeting
Proposals Calls Out Management for Betraying Shareholders by ‘Aiding and Abetting’ Extremist ‘Climate Activists’ Enemies
Dallas, TX – Steve Milloy, senior policy fellow for the Energy & Environment Legal Institute (E&E Legal), will be one of ExxonMobil shareholders presenting a proposal at the oil and gas multinational corporation’s annual meeting today in Dallas.
WHAT: Milloy’s shareholder proposal, Nuisance Shareholders, states on Page 56: “That the Company amend its bylaws to no longer permit shareholders to submit precatory (non-binding or advisory) proposals for consideration at annual shareholder meetings, unless the board of directors takes specific action to approve submission of such proposals.” The goal of his proposal is to call to task ExxonMobil management for it’s lack of fight against extremist ‘climate activists’ who are trying to bankrupt the oil & gas company. In his 2-minute presentation, Milloy will remind shareholders of ExxonMobil’s support of a carbon tax, their efforts to keep the United States in the economically disastrous Paris Accord, and other efforts the company is undertaking to appease a far-left group who advocates for the end of fossil fuel in America and the world.
WHERE/WHEN: ExxonMobil’s 2017 Annual Meeting of Shareholders will be held on Wednesday, May 31, 2017, at the Morton H. Meyerson Symphony Center in Dallas, Texas at 9:30 a.m. CT.
CONTACT: Craig Richardson, E&E Legal President, Richardson@eelegal.org or 202-810-2001
In a recent Investor’s Business Daily op-ed, Milloy Stated: “After years of its annual meeting being turned into a circus by fossil fuel-opposing climate activist shareholders and other activist pressure, Exxon Mobil is perhaps foremost among U.S. oil and gas companies that now advocate for government action on climate, and against its own products and the best interests of its own shareholders. Despite the November 2016 election of a presidential candidate who promised to withdraw the U.S. from the Paris climate treaty, called climate change hysteria a ‘hoax’ and who promised to unleash the U.S. energy industry after eight years of anti-fossil fuel policies, Exxon Mobil management not only openly supports the Paris climate treaty but also supports a ‘carbon tax.’ Both policies are intended to dramatically reduce if not eliminate fossil fuel use.
About EE Legal
The Energy & Environment Legal Institute (E&E Legal) is a 501(c)(3) organization engaged in strategic litigation, policy research, and public education on important energy and environmental issues. Primarily through its petition litigation and transparency practice areas, E&E Legal seeks to correct onerous federal and state policies that hinder the economy, increase the cost of energy, eliminate jobs, and do little or nothing to improve the environment.