22 Sep '14, 10pm

Climate coup: Rockefeller announces they are dropping fossil fuel investments

Climate coup: Rockefeller announces they are dropping fossil fuel investments

Sunset. Photo by: Rhett A. Butler. In 1870, John D. Rockefeller founded the Standard Oil Company. Rapidly becoming the world's largest oil refiner, Standard made Rockefeller a billionaire and one of the world's greatest philanthropists. A hundred and forty-four years later and John D. Rockefeller's descendants have announced they are stripping fossil fuels from the Rockefeller Brothers Fund, a private charity with around $860 million in assets, due to the rising threat of global warming. "John D. Rockefeller, the founder of Standard Oil, moved America out of whale oil and into petroleum," Stephen Heintz, president of the Rockefeller Brothers Fund, said in a statement today. "We are quite convinced that if he were alive today, as an astute businessman looking out to the future, he would be moving out of fossil fuels and investing in clean, renewable energy." To date the glo...

Full article: http://news.mongabay.com/2014/0922-hance-rockefeller-dive...

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