Sat Mar 23, 2024 11:33 pm by globalturbo
Heirs to the oil fortune created by John D. Rockefeller, who founded Standard Oil in 1870, are exiting the family business.
The Rockefeller Family Fund, a charity that supports causes related to the environment, economic justice and other issues, is liquidating its investments in fossil fuel companies, including Exxon Mobil (XOM).
"While the global community works to eliminate the use of fossil fuels, it makes little sense -- financially or ethically -- to continue holding investments in these companies," the fund said on Wednesday in a statement. "There is no sane rationale for companies to continue to explore for new sources of hydrocarbons."
https://www.cbsnews.com/amp/news/rockefeller-family-is-exiting-the-oil-business/?fbclid=IwAR0wJK-_cik5h1PNoRo6Lmtbihzn-rTrIW_yoftoXBYk1zzmwc5h-bGjdEo
The Rockefeller Family Fund, a charity that supports causes related to the environment, economic justice and other issues, is liquidating its investments in fossil fuel companies, including Exxon Mobil (XOM).
"While the global community works to eliminate the use of fossil fuels, it makes little sense -- financially or ethically -- to continue holding investments in these companies," the fund said on Wednesday in a statement. "There is no sane rationale for companies to continue to explore for new sources of hydrocarbons."
https://www.cbsnews.com/amp/news/rockefeller-family-is-exiting-the-oil-business/?fbclid=IwAR0wJK-_cik5h1PNoRo6Lmtbihzn-rTrIW_yoftoXBYk1zzmwc5h-bGjdEo
