Major Exxon Investor Warns Shareholders Not to Give Into Global Warming Hysteria

An activist-led measure at Exxon Mobil Corp.’s next annual meeting addressing global warming could financially wipe out the company’s largest shareholders, one long-time Exxon shareholder said.

BlackRock and Vanguard Group are toying with the idea of supporting an investor-created proposal that would force Exxon to measure how regulations limiting greenhouse gasses could impact the value of the company’s oil assets, sources told The Wall Street Journal Thursday.

The measure is receiving intense scrutiny from shareholders who worry Exxon could get wobbly-kneed in the face of the environmentalist push.

Some analysts believe the measure, if passed, could indicate the full weight and force powerful investors and money managers that are concerned about climate change have on energy companies. Exxon is opposed to the measure and will find out if Vanguard and BlackRock support the measure at the company’s annual meeting on May 31.

But Steve Milloy, a lawyer-statistician and climate skeptic, believes Exxon’s shareholders are flirting with the devil. (Read more from “Major Exxon Investor Warns Shareholders Not to Give Into Global Warming Hysteria” HERE)

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