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Exxon Mobil's (XOM) CEO Rex Tillerson Hosts Annual Shareholder Meeting (Transcr... Page 21 of 25
Well, thank you for your comments and your confidence in the company of what we do is you're saying a large portion of our
efforts over the last two to three years have been to begin to elevate the public's awareness of how important energy is in their
daily lives, in order to have them be willing to engage in a next level of conversation about why these things are important and
why these issues are important. But I take your comments seriously. It is one of our great challenges is how to engage the
public broadly in issues that are often times complicated and mysterious to them. 1 can assure you we do not shrug from that
and we have a very large coalition we call the Speakers Bureau of individuals who speak in their local communities, They
speak to Kiwanis Clubs, they speak to Rotary Club, the PTAs, the Chambers of Commerce, and these are our employees. So
they know the business better than anyone in order to put that face out there to engage with local communities and address
the concerns and questions they have. That's an effort we'll continue. But it's something that we just have to continue to work
at daily. And it is always a bit of a judgment of where do you want to set the dial on trying to help people understand this.
So, I take your comments, again seriously and I welcome them and I thank you for your support. Right down here.
Unidentified Analyst
Good morning, Mr. Chairman, Mr. Rosenbusch and all the directors. My name is William (indiscernible) I am from
Massachusetts. And I have been an investor in Exxon Mobil for over 30 years. And first I want to thank all the Exxon Mobil
employees past and present for all the good and hard work. The current administration in Washington isn't business friendly,
especially the companies like ours. There continues to be a push by large universities to divest their multi-billion dollar
endowments away from fossil fuel companies. Two other most recent institutions do so make that announcement. Harvard
University as well as Stanford University. Can you speak to what Exxon Mobil is doing to support the clean energy movement,
and what do you think is possible could you get a percentage of what you think the business will be that supports clean energy
towards around 2040. I know it's very difficult. My second question is price per barrel is over $100 and what price does the
barrel have to drop to, to continue to support if the lowest price has to drop to the continued selected dividend, thank you.
Well I have to be very careful commenting on prices or walking close to that question in any form, the US justice department
takes a great interest in anything I say about this. So I will have to defer on that. All I would comment is that I think we have
structured the company financially with the investments we have made to give us a very healthy cash flow. And we have a lot
of doves and levers and mobs we can turn and push and pull to ensure that we can continue to deliver the kind of dividend
performance that you come to expect of us. We are certainly committed to do that. I think in terms of the clean energy
component and again if you look at the energy outlook and I had a slide in here that showed our expectation is that
renewables, solar, wind other forms of what people would I guess put in that category, clean energy are going to grow their
rates of growth that are two to three times faster than the rate of growth of traditional sources of energy. And I think that's
reflective of the pull for that. Its reflective of a lot of regulatory mandate governments require utilities to have a certain
component of renewable energy so they have to go out and get it whether it makes economic sense to them or not. So it is
driven by a number of factors which we expect are willing to be with us for quite some time. As I think I have commented in the
past week, continually evaluate the full landscape of all of the new sources of energy supply including those we have actually
been in some of those lines of businesses before. We think thus far there has been no technology breakthroughs, doesn't look
like they are particularly promising on the scale basis without a lot of government support mandates and regulations.
And which is not - I prefer not to invest in opportunities that live and die by government mandate. I could what the government
gives and just as easily take away the next day and you got a non-performing asset. And in fact you have seen a lot of our
competitors who put a lot of money in to wind and solar taking numerous write downs of those investments we didn't mark out.
So we stay with what we know best which is all natural gas, petroleum, petrochemicals and we stick with technologies to help
consumers use it more wisely, use it in a way that's less impactful to the environment and we continue working technologies
that allow us to find ways to deliver that to the consumer. That's the things we know how to do best, but we have a very
significant resource organization that has its fingers and hands on everything that is emerging out there because we certainly
want to know about it for something that looks promising we have the way with all to enter anything which used to.
Jim Markham
Yes, my name is Jim Markham. I enjoyed a 13 year crew with Exxon Mobil. I am a college young engineer. And I am very
proud of the brand. And my question is actually the offset of this gentleman have we ever considered taking the Exxon Mobil
name off the street. Now that we have gone to the distributor brand, wholesale brand, we no longer the steward of our brand
and here just locally our service stations will stay within $0.2 to $0.3 of competition and now that we have sold these locations
to 7/11. We would sometimes with $0.21 off on the street. I am loyal, I will continue to pay it, but its very difficult that most folks
don't know that we no longer own those facilities or run those facilities, and we have given our brand to other folks to be the
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