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Exxon Mobil accurately predicted warming since 1970s, study finds

edited January 2023 in Other Investing
https://nbcnews.com/science/environment/exxon-mobil-accurately-predicted-warming-1970s-study-finds-rcna65583

Will it affect its stock? It should, but it probably won't unless there's some sort of class action suit or government prosecution. An article excerpt:
Exxon Mobil’s scientists were remarkably accurate in their predictions about global warming, even as the company made public statements that contradicted its own scientists’ conclusions, a new study says.

The study in the journal Science Thursday looked at research that Exxon funded that didn’t just confirm what climate scientists were saying, but used more than a dozen different computer models that forecast the coming warming with precision equal to or better than government and academic scientists.

This was during the same time that the oil giant publicly doubted that warming was real and dismissed climate models’ accuracy. Exxon said its understanding of climate change evolved over the years and that critics are misunderstanding its earlier research.

Scientists, governments, activists and news sites, including Inside Climate News and the Los Angeles Times, several years ago reported that “Exxon knew” about the science of climate change since about 1977 all while publicly casting doubt. What the new study does is detail how accurate Exxon funded research was. From 63% to 83% of those projections fit strict standards for accuracy and generally predicted correctly that the globe would warm about .36 degrees (.2 degrees Celsius) a decade.

The Exxon-funded science was “actually astonishing” in its precision and accuracy, said study co-author Naomi Oreskes, a Harvard science history professor. But she added so was the “hypocrisy because so much of the Exxon Mobil disinformation for so many years ... was the claim that climate models weren’t reliable.”

Study lead author Geoffrey Supran, who started the work at Harvard and now is a environmental science professor at the University of Miami, said this is different than what was previously found in documents about the oil company.

“We’ve dug into not just to the language, the rhetoric in these documents, but also the data. And I’d say in that sense, our analysis really seals the deal on ‘Exxon knew’,” Supran said. It “gives us airtight evidence that Exxon Mobil accurately predicted global warming years before, then turned around and attacked the science underlying it.”

Comments

  • Can you say "tobacco"? Unfortunately, no surprise here.
  • edited January 2023
    I’ve not yet heard the “Climate Deniers” comment on this revelation or attempt to explain it away, although I’m sure they will try their best.

    This is why I have historically refused to invest directly in an oil or pipeline company….and the same for a tobacco company.
  • Watch the Ronald Reagan Documentary, it is not new and it is streaming somewhere. It mentions how the Reagan Administration discoureaged Exxon and other oil companies from bringing the information to the public.
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