Rockefellers give away oil

Rockefeller family's foundation gets rid of their shares in the oil and coal companies.
Origin source
Foundation Rockefeller family, whose wealth is largely built on the oil industry, has officially announced his intention in the near future to get rid of all of the assets associated with the production of fossil fuels. It is a minimum of 130 million dollars. As a maximum - the end of the era of oil capital.

As soon as possible

As they say in a statement posted on the Foundation website, the Rockefellers are going as soon as possible to withdraw the investment previously made in the extraction and processing of coal and oil. We are talking primarily about the company ExxonMobil - the industrial giant Standard Oil heiress, whose founder in 1870 was John D. Rockefeller and who later "gave birth" of the company Exxon, Amoco, Chevron and Mobil.

For such solutions, explains the Rockefeller Family Foundation leadership, there were good reasons, both financial and ethical.

"The international community is working to eliminate the need to use fossil fuels. In these circumstances, it makes no sense to continue to maintain the investment in these companies, "- said in a statement.
The Fund disclaims exploration of new deposits and offers to preserve a significant part of the existing stock - as the hydrocarbon NC for future generations. Because of this, according to the fund, humanity and ecosystems will hope for survival over the coming decades.

The second ethical reason (and it is also listed in the application) - the inability to cooperate with ExxonMobil. Company with 80s vulgar century is a policy of double standards in environmental matters. ExxonMobil, according to the Fund, "is misleading the public about its attitude to climate change, while at the same time spending millions to enhance their own infrastructure despite the devastating consequences of climate change."

They knew but kept silent?

Under the available information, most likely refers to a series of articles in the anthology InsideClimate News, which protects and provides financial support to the Rockefeller family fund. The publications also voiced accusations that the oil giant supposedly 30 years ago knew about nadvigayuschemsya global warming, but deliberately concealed these forecasts by investors, politicians and the public.

Does ExxonMobil operations in violation of any law shall establish competent authorities. Themselves as the Rockefellers, claiming "moral irresponsibility" of the company, ordered to urgently to sell all the shares in the coal and oil companies, leaving these areas is not more than 1% of the total investment portfolio of the family.

Great granddaughter of the founder of the dynasty of John D. Rockefeller Neva Rockefeller Goodwin commented on the decision: "In the past the main argument for the use of fossil fuels was that it greatly affects the improvement of living standards. It's all good, but it was in the twentieth century. I, of course, is not very happy about the fact that I sell shares that provided me in the past. But it really hurts the world - today and tomorrow. "

According Neva Rockefeller Goodwin, formerly she and other members of the family tried to pay attention to the company's climate change problem - but to no avail. "They damn nevospriiChiva to what others think, and did not pay attention to the problem for decades, "- said 72-year-old entrepreneur.

Alan Jeffers, Exxon Mobile representative said in turn: "It is not surprising that they get rid of the shares. After all, they are financing a conspiracy against us. " Publications InsideClimate News and the School of Journalism at Columbia University Jeffers called inaccurate and deliberately misleading.

I understood this hint

At the second stage the fund experts who have engaged in the search for reasonable alternatives to investments in oil, will have to prepare a divestment plan. At the same time, considerable attention will be paid to "rapidly growing field of socially responsible investing."

Thus, abandoning the investment in the oil, the Rockefeller Family Fund joins a significant number of American universities, health organizations, religious communities, who refuse on principle to fund the production and processing of hydrocarbons. It should be noted, however, that many of the leaders of the oil industry believe these steps neobdumnnym and even dangerous, if eliminate the use of oil right now, not having a sufficient number of "clean" energy sources, millions of people in developing countries will be doomed to a life of darkness and poverty.

It is noteworthy that in the statement of the fund are the same "financial reasons" mentioned in passing, without decoding. And in the comments of representatives of the organization we are talking exclusively about the moral and ethical side of the issue.

Meanwhile, a nice gesture with the abandonment of oil stocks can be read differently: the oil era is coming to an end, the Rockefellers (entrepreneurs in the sixth generation) have a great flair for trend reversal, but in many ways these change themselves and define. That is why two years sell oil assets, switching to clean fuels, and at the same time trying to drown competitors. "I gave birth to you, I love you and selling!". No environment, just business?


Rockefeller - American dynasty of industrialists, politicians and bankers, the richest family in the world. Rockefeller Family Fund (RFF) - established in 1967American charity that deals with environmental protection and social issues. The company ExxonMobil is producing oil in the United States, Canada, the Middle East, etc. The company has a stake in 45 oil refineries in 25 countries and in more than 100 countries and owns the gas station network. Proven reserves, which are controlled from ExxonMobil, - 22,4 billion barrels of oil equivalent.