Exxon Mobil Corporation (NYSE:XOM) 2020 Annual Meeting of Shareholders May 27, 2020 10:30 AM ET
Stephen Littleton – Vice President of Investor Relations and Corporate Secretary
Darren Woods – Chairman, President and Chief Executive Officer
Liz Gordon – New York State Common Retirement Fund
John Chevedden – Shareholder
Steve Milloy – Shareholder
Lila Holzman – Shareholder
Tim Brennan – Shareholder
Ricky Brooks – Shareholder…
Good morning my fellow shareholders. My name is Steve Milloy. Our share price was rocked this year by oil production war and coronavirus lockdown. You may think these events were unforeseeable and management is simply doing the best it can, or you can realize Exxon Mobil operates in a dangerous and unpredictable world where management must be prepared for all sorts of catastrophic events. I filed my shareholder proposal because I take the latter view and management is letting us down.
Our world runs on fossil fuels. Nothing in our world happens without that, nothing. And now to recover from the coronavirus locked down, we will need cheap, reliable fossil fuels more than ever. But what is management doing? Management is helping radical left wing groups scare the public about fossil fuel emissions. Management is lobbying for CO2 tax so consumers can use less of the product Exxon sell. Management wants America to rejoin the Paris Climate Agreement, a hoax of a treaty that would limit fossil fuel use in the U.S., while allowing Communist China to do whatever it wants. Is management incompetent or just irresponsible? But one thing’s for sure. When he talks about climate, it is spewing nonsense. You can read that in some of management’s baloney in my shareholder proposal or in my op-ed in today’s Wall Street Journal.