Chris Hayes welcomes Lou Allstadt, former EVP of Mobil Oil, who wrote an open letter to ExxonMobile CEO Rex Tillerson.
Watch the video: Former Exxon exec takes on fracking and Exxon’s current CEO
Chris Hayes welcomes Lou Allstadt, former EVP of Mobil Oil, who wrote an open letter to ExxonMobile CEO Rex Tillerson.
Watch the video: Former Exxon exec takes on fracking and Exxon’s current CEO
I always find it funny that former oil major CEOs come out in this way. It’s as if after they’ve made a boatload exploiting people, they start to feel guilty and want to come clean.
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Yes, the guilt factor is peculiar. There is another factor called “fiduciary responsibility” or “fiduciary duty” where executives are obliged to earn profits for their corporation above all else. This was written into American corporate law beginning in the 19th century. Previously, corporate charters were granted by state legislatures for very specific community oriented goals and for limited time-frames. The advent of perpetual corporate person-hood, limited liability status, and the ethical separation of profit-making from the public interest, all laid the foundation for the morally questionable behavior of today’s business executives.
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Those laws have to go. Looter laws, really.
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Mr. Alllstadt is retired so has no fear of getting fired. One has the best chance of finding men and woman who speak the truth without fear by looking for retirees. Another example is Paul Craig Roberts. Alllstadt may have signed legal papers/gag orders (never to speak out against fossil fuels, etc. while employed by Mobil) This explains the fear potential whistleblowers who are still employed have that has them decide to keep their mouths shut. Nuclear expert Donna Busche was one courageous enough to hold her ground on Hanford design deficiencies, risking her career in the process.
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Those are really good points, Jerry. Truth is often sequestered inside institutional walls, and by those who stand behind them.
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