ExxonMobil's position on climate change continues to be misunderstood by some individuals and groups.

There is increasing evidence that the earth's climate has warmed on average about 0.6 C in the last century. Many global ecosystems, especially the polar areas, are showing signs of warming. CO2 emissions have increased during this same time period - and emissions from fossil fuels and land use changes are one source of these emissions.

Climate remains today an extraordinarily complex area of scientific study.  But the risks to society and ecosystems could prove to be significant - so despite the areas of  uncertainty that do exist, it is prudent to develop and implement strategies that address the risks, keeping in mind the central importance of energy to the economies of the world. This includes putting policies in place that start us on a path to reduce emissions, while understanding the context of managing carbon emissions among other important world priorities, such as economic development, poverty eradication and public health. While this long term objective is pursued, near term objectives should include supporting climate research to reduce uncertainties while pacing policy responses; promoting energy efficiency; deploying existing technologies that reduce greenhouse gas emissions; and supporting research and development of new, low-GHG technologies.

Policymakers are considering a variety of proposed regulatory options to mitigate GHG emissions. In our view, assessing these options requires an understanding of their likely effectiveness, scale and cost, as well as their implications for economic growth and quality of life. Within ExxonMobil, we analyze and compare the various policy options by evaluating the degree to which they:

* maximize the use of market forces
* ensure a uniform and predictable cost of reducing CO2
* promote global participation
* minimize complexity and administrative costs
* provide transparency to companies and consumers
* adjust to new developments in climate science and the economic impacts of policies

ExxonMobil scientists have undertaken climate change research and related policy analysis for 25 years and their work has produced more than 40 papers in peer-reviewed literature. In addition, our scientists participate in the United Nations Intergovernmental Panel on Climate Change (IPCC) and numerous related scientific bodies.

Over the years the company has supported major projects at such institutions as the Massachusetts Institute of Technology, Stanford University, the Australian Bureau of Agricultural Resource Economics, Batelle Pacific Northwest Laboratory, Princeton University, Charles River Associates, the Hadley Centre for Climate Prediction, the International Energy Agency Greenhouse Gas R & D Programme, Yale University, The University of Texas, Carnegie Mellon University, and the Lamont Doherty Earth Observatory at Columbia University.

Similarly, we support an array of public policy organizations that research and promote discussion on climate change and other domestic and international issues, including the Brookings Institution, the American Enterprise Institute, the Council on Foreign Relations and the Center for Strategic and International Studies.  We publish the complete list of organizations on our web site - and update the published list once per year.

For our part, ExxonMobil is taking action to mitigate greenhouse gas emissions today and to support the development of advanced energy technologies with the potential to significantly reduce future emissions.  These include:

Working with Manufacturers of Automobiles and Commercial Industrial Engines on research and development programs that could yield fuel economy improvements in internal combustion engines by as much as 30%, with lower corresponding emissions.

Supporting the Global Climate and Energy Project (GCEP) at Stanford University with a charge to accelerate the development of commercially viable energy technologies that can lower greenhouse gas emissions on a global scale. GCEP's focus includes hydrogen production, storage and use; biomass and solar energy; carbon dioxide capture and storage; and advanced transportation and coal technologies. ExxonMobil helped launch the $225 million project in 2002.  GCEP is the largest privately-funded, long term research program of its type in the world.

Mitigating Greenhouse Gas Emissions Through Efficiency and Best Practices with   steps taken to improve energy efficiency at our facilities since 1999 that have resulted in the avoidance of 11 million metric tons of greenhouse gas emissions last year alone - the equivalent of taking about two million cars off the road.  We are working to identify and implement additional measures to more than double these reductions in the near future.

Partnering with the U.S. Environmental Protection Agency and Department of Energy to reduce Greenhouse Gas Emissions in its aim to save more than six billion gallons of fuel annually in the U.S. freight transport system through the EPA's "Smartway" Transport Partnership.  ExxonMobil was the first petroleum company to join and recently became a charter member of EPA's Natural Gas Star International Program which expands to international operations the technologies and practices that have reduced methane emissions in the U.S. by six percent over a 1990 baseline. In addition, through a 2003 industry-wide commitment by the American Petroleum Institute, ExxonMobil is improving the efficiency of its refining operations, to gain a 10 percent or more improvement between 2002 and 2012.

Partnering with the European Commission to study Carbon Capture and Storage (CCS) in the recently announced CO2ReMoVe program, a ground-breaking research initiative to establish scientific monitoring systems and determine the reliability of geological carbon dioxide storage.  Our support for CO2ReMoVe, builds on more than three decades of involvement in the development and utilization of CCS-related technologies.