{"id":71069,"date":"2016-03-28T12:00:18","date_gmt":"2016-03-28T11:00:18","guid":{"rendered":"https:\/\/www.transcend.org\/tms\/?p=71069"},"modified":"2016-03-27T18:09:09","modified_gmt":"2016-03-27T17:09:09","slug":"rockefellers-dump-exxon-holdings-that-made-familys-fortune","status":"publish","type":"post","link":"https:\/\/www.transcend.org\/tms\/2016\/03\/rockefellers-dump-exxon-holdings-that-made-familys-fortune\/","title":{"rendered":"Rockefellers Dump Exxon Holdings That Made Family&#8217;s Fortune"},"content":{"rendered":"<div id=\"attachment_71071\" style=\"width: 710px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.transcend.org\/tms\/wp-content\/uploads\/2016\/03\/exxon-rockefeller.jpg\"  rel=\"attachment wp-att-71071\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-71071\" class=\"wp-image-71071\" src=\"https:\/\/www.transcend.org\/tms\/wp-content\/uploads\/2016\/03\/exxon-rockefeller-1024x440.jpg\" alt=\"Photographer: Luke Sharrett\/Bloomberg\" width=\"700\" height=\"301\" srcset=\"https:\/\/www.transcend.org\/tms\/wp-content\/uploads\/2016\/03\/exxon-rockefeller-1024x440.jpg 1024w, https:\/\/www.transcend.org\/tms\/wp-content\/uploads\/2016\/03\/exxon-rockefeller-300x129.jpg 300w, https:\/\/www.transcend.org\/tms\/wp-content\/uploads\/2016\/03\/exxon-rockefeller-768x330.jpg 768w, https:\/\/www.transcend.org\/tms\/wp-content\/uploads\/2016\/03\/exxon-rockefeller.jpg 1507w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/a><p id=\"caption-attachment-71071\" class=\"wp-caption-text\">Photographer: Luke Sharrett\/Bloomberg<\/p><\/div>\n<p>&nbsp;<\/p>\n<ul>\n<li>Rockefeller Family Fund plans to divest all fossil fuel stocks<\/li>\n<li><em>Descendants of founder call company `morally reprehensible&#8217;<\/em><\/li>\n<\/ul>\n<p><em>23 Mar 2016 &#8211; <\/em>Descendants of John D. Rockefeller sold their Exxon Mobil Corp. stock and plan to dump all other fossil-fuel investments in the latest move against the industry that made their fortune.<\/p>\n<p>The Rockefeller Family Fund concluded there\u2019s \u201cno sane rationale\u201d for companies to explore for oil as governments contemplate cracking down on carbon emissions, according to a statement on the website of the New York-based philanthropic foundation Wednesday.<\/p>\n<p>The fund singled out Exxon, the world\u2019s biggest oil explorer by market value, for what it called \u201cmorally reprehensible conduct,\u201d a reference to a series of articles last year by InsideClimate News that alleged the oil titan knew about global warming as far back as the 1970s and sought to hide what it knew from investors, policymakers and the public. The Rockefeller Family Fund and the Rockefeller Brothers Fund both are listed as financial backers of InsideClimate News on its website.<\/p>\n<p>\u201cIt\u2019s not surprising that they\u2019re divesting from the company since they\u2019re already funding a conspiracy against us,\u201d Alan Jeffers, a spokesman for Irving, Texas-based Exxon, said in an e-mailed statement on Wednesday.<\/p>\n<p>Exxon, which traces its roots to the 1880s and John D. Rockefeller\u2019s integration of refineries and Pennsylvania oilfields, has dismissed the InsideClimate News allegations as products of \u201canti-oil and gas activists who cherry-picked documents\u201d to distort the company\u2019s role in climate research.<\/p>\n<p>Fossil-fuel investments represent about 6 percent of the\u00a0Rockefeller Family Fund\u2019s $130 million in holdings, Lee Wasserman, director of the foundation, said in a telephone interview on Wednesday.<\/p>\n<p><a target=\"_blank\" href=\"http:\/\/www.bloomberg.com\/news\/articles\/2016-03-23\/rockefellers-dump-exxon-holdings-that-made-family-s-fortune?cmpid=BBD032416_BIZ\" >Go to Original \u2013 bloomberg.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Rockefeller Family Fund plans to divest all fossil fuel stocks<br \/>\n* Descendants of founder call company `morally reprehensible&#8217;<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[147],"tags":[],"class_list":["post-71069","post","type-post","status-publish","format-standard","hentry","category-energy"],"_links":{"self":[{"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/posts\/71069","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/comments?post=71069"}],"version-history":[{"count":0,"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/posts\/71069\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/media?parent=71069"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/categories?post=71069"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/tags?post=71069"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}