As Big Oil Declines, Bill McKibben Says, “So Will Its Political Power”

Follow CleanTechnica on Google News . In a recent editorial , Bill McKibben declared that “Big Oil is not so big anymore.” The founder of 350.org attributes this to the recent JPMorgan Chase announcement that Lee Raymond will no longer serve as the lead independent director of the world’s largest lender to the fossil-fuel industry. Why is that director change significant? Raymond is the Exxon guy who lied to the World Petroleum Congress audience in 1997 on the eve of the Kyoto climate talks, saying that the planet was cooling, and that it made no difference if we acted then or waited a quarter century to limit fossil fuels. In his retirement, his job has been to help run the board at Chase. It’s been revealed in recent years that Exxon’s scientists discovered far before it was publicly an issue that climate change was an authentic reality. They willingly engaged in a coverup to sustain profitability margins as long as possible. Advocates have urged Chase to remove Raymond as lead independent director because of his climate-denying past. What’s important to know about the current trajectory of Big Oil — including what’s practical and what’s symbolic, according to McKibben? Image […]

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