News Summary: Exxon CEO: Energy fears overblown

Published June 27, 2012 8:19pm ET



FEARS OVERBLOWN: ExxonMobil CEO Rex Tillerson said fears about climate change, drilling, and energy dependence are overblown. In a speech Wednesday, Tillerson blamed a public that is “illiterate” in science and math, a “lazy” press, and environmental advocacy groups that “manufacture fear” for energy misconceptions.

HUMANS CAN HANDLE CLIMATE CHANGE: Tillerson acknowledged that global temperatures are rising. But said that people would be able to adapt to rising sea levels and changing climates that may force agricultural production to shift.

DRILLING IS RISKY, BUT WORTH IT: Drilling for oil and gas will always involve risks of spills and accidents, he said. But those risks are manageable and worth taking because they are small given the amount of energy they produce.