Billionaires funding climate change denial

Issue 

The article below is an excerpt from a March 2010 Greenpeace report entitled Koch Industries: Secretly Funding the Climate Denial Machine, published in March 2010 by Greenpeace. The full report can be read here.

* * *

Most Americans have never heard of Koch Industries, one of the largest private corporations in the country, because it has no Koch-branded consumer products, sells no shares on the stock market and has few of the disclosure requirements of a public company.

However, it is now playing a quiet but dominant role in a high-profile national policy debate on global warming. Koch Industries has become a financial kingpin of climate science denial and clean energy opposition.

This private, out-of-sight corporation is now a partner to ExxonMobil, the American Petroleum Institute and other donors that support organisations and front-groups opposing progressive clean energy and climate policy.

From 2005 to 2008, ExxonMobil spent US$8.9 million, while the Koch Industries controlled foundations contributed $24.9 million in funding to organisations of the "climate denial machine".

Charles and David Koch, brothers who own the corporation and control its political spending, are two of the top 10 richest people in the United States.

Kansas-based Koch Industries is a conglomerate dominated by petroleum and chemical interests with approximately $100 billion in annual sales and operations in nearly 60 countries.

Koch Industries has been ranked as the first- or second-largest privately-held company in the US in recent years, currently ranked second behind Cargill corporation.

If you like our work, become a supporter

Green Left is a vital social-change project and aims to make all content available online, without paywalls. With no corporate sponsors or advertising, we rely on support and donations from readers like you.

For just $5 per month get the Green Left digital edition in your inbox each week. For $10 per month get the above and the print edition delivered to your door. You can also add a donation to your support by choosing the solidarity option of $20 per month.

Freecall now on 1800 634 206 or follow the support link below to make a secure supporter payment or donation online.