2001 ExxonMobil Fortune article

This document is an article discussing ExxonMobil’s current and future oil production, published in a 2001 issue of Fortune, a popular international business magazine. In the article, ExxonMobil’s CEO Lee Raymond stated that the company plans to “spend $45 billion over the next decade to increase its energy production by three million barrels a day.” The article also discusses ExxonMobil’s long history of spending billions of dollars each year on research and development. However, the article points out the Raymond, “doesn’t hold out much hope in the short term for alternative energy sources” such as solar or methane. Raymond is also mentioned for his refusal to acknowledge climate change and its potential effects. Raymond’s statement exhibits Exxon’s decades long strategy to cast doubt on global warming.


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