ConocoPhillips: The anti-Exxon

The Texas-based oil company breaks with the other U.S. majors to support mandatory national regulation of greenhouse gas emissions

NEW YORK (Fortune) — Here’s yet another sign that the debate over climate change has shifted decisively: ConocoPhillips today becomes the first U.S.-based oil company to support mandatory national regulation of greenhouse gas emissions.

In so doing, ConocoPhillips breaks ranks with the two biggest U.S. oil companies – ExxonMobil and Chevron – as well as with the Bush administration. With revenues of $188 billion in 2006, ConocoPhillips operates in 40 nations around the world from its headquarters in Bush country – Houston, Texas.


James J. Mulva, the chairman and chief executive of ConocoPhillips, announced the change at a meeting with reporters in Washington, where congressional hearings or industry forums on climate issues are happening almost daily. It’s become almost impossible for big companies to stay out of the fray.

Mulva said no particular event caused ConocoPhillips to step forward. “We believe that the science is quite compelling,” he said. “Human activity, including the burning of fossil fuels, is contributing to climate change. Now is the time we need a national mandated framework to deal with climate change.”

Fortune