London, Jan 17 (HNA) – United States Securities and Exchange Commission (SEC) confirmed on Friday it has launched an investigation of Exxon Mobil Corp. after a whistleblower complaint made by one employee last year.
According to The Wall Street Journal, the employee claimed that Exxon overvalued its assets in the Permian Basin, the largest US oil field by its production.
According to this employee, workers were forced to fake their predictions of the speed of the drilling wells in order for the company to arrive at a higher value. Exxon spokesman Casey Norton stated that the company will give all information on its actual performance exceeding the drilling estimate if asked.
Achieving meaningful reductions in greenhouse gas emissions will require a wide range of solutions, and ExxonMobil believes that carbon capture and storage (CCS) has the potential to play an important role.
CCS is the process by which carbon dioxide from power-plant and other industrial activities that would otherwise be released into the atmosphere is captured, compressed and injected into underground geologic formations for safe, secure and permanent storage.
The Intergovernmental Panel on Climate Change estimates that fossil fuel power plants and large industrial facilities account for as much as 60 percent of global carbon emissions. Thus, the broad-based deployment of cost-effective carbon capture and storage would potentially make a massive impact on the world’s greenhouse gas levels.