Exxon Vice President for Public Affairs Kenneth Cohen has announced that the the company now accepts the reliability of global warming science and has announced the end of their funding to organizations that deny climate change science, such as the Competitive Enterprise Institute (CEI) who were made laughably famous for their near parody "CO2 - They call it pollution, We call it life" television ad.
Exxon now says they ready to work with policy makers on regulations, which they anticipate will be coming soon.
Exxon wants any regulation to be applied across "the broadest possible base" of the economy, said Jaime Spellings, Exxon's general manager for corporate planning. Exxon says avoiding a ton of carbon-dioxide emissions is, with certain exceptions, less expensive in the power industry than in the transportation sector. Though solar energy remains expensive, reducing a ton of emissions by generating electricity from essentially carbon-free sources such as nuclear or wind energy is cheaper than reducing a ton of emissions through low-carbon transportation fuels such as ethanol.