How would you define alternative energy? Solar power? Wind turbines? Recycling waste grease into biodiesel? Well, if you're Rex Tillerson, the CEO of Exxon, then "alternative" energy has a very special meaning. The Dallas Morning News heard Tillerson say the following during the company's annual shareholder meeting last week:
Our approach to alternative energy in the near term is alternative ways to consume fossil fuels (more efficiently).Just wow.
How this will play out in the world, Tillerson said, is that as the U.S. and Europe begin to wean themselves from oil, the rest of the world will pick up the demand slack. He said China will want three times more oil in 2030 than it does today. Activist shareholders attempted to get the company to change its line of thinking during the meeting - by setting goals to cut greenhouse gas emissions, for example - but their proposals were defeated. As one non-activist shareholder put it: "It's not the company's job to save [the world]."
[Source: Dallas Morning News via Domestic Fuel]Photo by DieselDemon. Licensed under Creative Commons license 2.0.