Exxon shareholders reject all resolutions (oil and gas…dominant fuels until at least 2030)

Exxon shareholders reject all resolutions

By DAVID KOENIG

DALLAS (AP) — Activists grilled Exxon Mobil Corp.'s CEO Wednesday on environmental issues and his compensation package, but shareholders stood behind management that delivered the biggest profit ever for a U.S. company last year.

Shareholders voted down all 11 resolutions at the company's annual meeting, which was a toned-down affair compared with protest-filled gatherings of recent years.

Chairman and Chief Executive Rex W. Tillerson defended the company's record on climate change, which many scientists blame on burning oil and other fuels. He said oil and gas will continue to be the world's dominant fuels until at least 2030, meeting nearly two-thirds of world demand.

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Despite the worldwide economic slowdown, oil prices, however, have been creeping back up for several weeks — an increase that Tillerson said couldn't be explained by any changes in supply and demand.

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