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I don’t believe a loving God consigns people to eternal damnation. But I do believe that Raymond, Exxon, and Chase have helped send the rest of us to a kind of hell.
Here’s how Lee Raymond’s hometown paper, the Houston Chronicle, remembered him Thursday morning.

The Texas paper was more direct, and more accurate, than anyone else covering the story. The Times obit gave top billing to the fact that he led the acquisition of Mobil and “cut costs relentlessly;” the Wall Street Journal waited till paragraph six to note that he was “openly skeptical” of climate science (much like The Wall Street Journal). But the Chron had it right—when people think back in a hundred years or a thousand or ten thousand, the one thing worth remembering about him will be the crucial role he played in holding back action on climate change.
I’m going to recount the lowlights of the story here, and add one that gets very little notice in the obituaries, but that ties directly to the ongoing crisis.
Raymond was a research engineer who spent his whole career at what was then the world’s largest company. He joined its board in 1984, already a leading candidate for CEO, which means he was near the top during the 1980s, the period when (as we now know thanks to great investigative reporting) the company’s scientists correctly identified the dangers of global warming and linked them directly to Exxon’s products. That research, as Inside Climate News reported in 2015,
laid the groundwork for a 1982 corporate primer on carbon dioxide and climate change prepared by its environmental affairs office. Marked “not to be distributed externally,” it contained information that “has been given wide circulation to Exxon management.” In it, the company recognized, despite the many lingering unknowns, that heading off global warming “would require major reductions in fossil fuel combustion.”
Unless that happened, “there are some potentially catastrophic events that must be considered,” the primer said, citing independent experts. “Once the effects are measurable, they might not be reversible.”
This was, of course, the same decade when Jim Hansen was carrying out his groundbreaking research at NASA (and I was writing The End of Nature). Exxon, as it turns out, was on precisely the same wavelength. Here’s, to me, one of the great historical what-ifs: Imagine that, on the night that Hansen made his remarks to Congress, an Exxon exec like Raymond had gone on the evening news and told Tom Brokaw, Dan Rather, or Peter Jennings that “our research shows pretty much the same thing.” No one would have accused Exxon of climate alarmism; instead, we would have gotten to work as a civilization.
Instead, they chose denial. And it was Raymond who played a lead role, as Exxon helped form the Global Climate Coalition, first of the obfuscation fronts. He became the spokesman for anti-science in many ways: In 1997, as the world approached the first global climate talks in Kyoto, he gave what may be a speech second only in importance to Hansen’s original testimony. Speaking in Beijing to the Worl Petroleum Congress, he contended that the world was cooling, that there was no way to know if carbon dioxide was to blame, and that in any event “it is highly unlikely that the temperature in the middle of the next century will be significantly affected whether policies are enacted now or 20 years from now.”
These, of course, were exactly the things Exxon’s scientists had told them were not true. Indeed, they’d been explicitly warned that
man has a time window of five to ten years before the need for hard decisions regarding changes in energy strategies might become critical.
And Exxon had believed its scientists. As a 2015 Los Angeles Times report made clear, they’d begun building drilling rigs higher to counteract rising sea levels, and plotting out what parts of the Arctic might be prime for oil drilling once they’d helped melt the ice.
Exxon, more than any single force on Earth, made sure that the planet didn’t address climate change while it had time. Given what it knew in the 1980s Exxon could have had a head start on building and owning the solutions like sun and wind. But, as one of Raymond’s successors said two years ago, that didn’t happen because “we don’t see the ability to generate above-average returns for our shareholders” with clean energy. And he was right. You can make money putting up solar panels, but you can’t make Exxon money, because the sun delivers energy for free. It doesn’t offer the same scope for greed.
And greed was the word here. For his role in helping wreck the Earth’s climate system, Exxon paid him $686 million, or $144,573 a day, during his tenure as CEO. His retirement package was $400 million.
And even when he finally left Exxon in 2005 he continued on doing damage—this is the often overlooked part of his story. He was the lead independent director at JP Morgan Chase, which had been the Exxon house bank, and which, as I chronicled for Rolling Stone in 2020, became the fossil fuel industry’s biggest lender—the “doomsday bank.”
Many of us ginned up a campaign to get him off that board (along with Rev. Lennox Yearwood and other protesters, and with Jane Fonda looking in through the glass windows, I was arrested at a DC Chase branch to help kick off that fight in 2020). It was eventually successful—that summer he was demoted as lead director, and left the board in December.
But Raymond’s legacy lives on. Just as Exxon has gone on pumping out oil (and climate nonsense), Chase has kept pumping out money. As the brand new edition of the Banking on Climate Chaos report pointed out last week, Chase remains the No. 1 financier of fossil fuels around the world, besting Mitsubishi, Citigroup, and Bank of America; since 2021 they’ve pumped a quarter-trillion dollars into this effort. Asked by The Guardian for a comment, a Chase spokesman said, “As one of the world’s largest financiers of energy, we support the full range of energy solutions and technologies, with a focus on reliability, affordability, security, and long-term resilience.” That kind of bland corporate-speak hides an almost unimaginable multitude of sins.
Like a great many Christians, I don’t believe a loving God consigns people to eternal damnation. But I do believe that Lee Raymond, Exxon, and Chase have helped send the rest of us to a kind of hell. As Jeff Masters just reported:
The world recorded its highest burned area for any January-May during the past 15 years, with more than 150 million hectares burned globally—22% higher than the previous high set in 2020 and about double the recent average for this period. In the US, the burned area so far in 2026 has been the highest for at least the past 10 years—about double the 10-year average—according to the National Interagency Fire Center.
"Trump must not give these companies billions in handouts and stick American taxpayers with the bill," implored Sen. Elizabeth Warren.
ExxonMobil's CEO told President Donald Trump during a Friday meeting that Venezuela is currently "uninvestible" following the US invasion and kidnapping of President Nicolás Maduro, underscoring fears that American taxpayers will be left footing the bill for the administration's goal of exploiting the South American nation's vast petroleum resources.
Trump had hoped to convince executives from around two dozen oil companies to invest in Venezuela after the president claimed US firms pledged to spend at least $100 billion in the country. However, Trump got a reality check during Friday's White House meeting, as at least one Big Oil CEO balked at committing financial and other resources in an uncertain political, legal, and security environment.
“If we look at the legal and commercial constructs and frameworks in place today in Venezuela today, it’s uninvestable,” ExxonMobil CEO Darren Woods told Trump during the meeting. “Significant changes have to be made to those commercial frameworks, the legal system. There has to be durable investment protections, and there has to be a change to the hydrocarbon laws in the country.”
Exxon CEO: If you look at the commercial constructs, frameworks in place in Venezuela today, it's uninvestable. Significant changes have to be made to these frameworks, the legal system. There has to be durable investment protections and change to the hydrocarbon laws. pic.twitter.com/vpdH6ftfzm
— Acyn (@Acyn) January 9, 2026
There is also skepticism regarding Trump's promise of "total safety" for investors in Venezuela amid deadly US military aggression and regime change.
However, many of the executives—who stand to make billions of dollars from the invasion—told Trump that they remain eager to eventually reap the rewards of any potential US takeover of Venezuela's vast oil resources.
The oil executives' apparent aversion to immediate investment in Venezuela—and Trump's own admission that the American people might end up reimbursing Big Oil for its efforts—prompted backlash from taxpayer advocates.
"Trump must not give these companies billions in handouts and stick American taxpayers with the bill," Sen. Elizabeth Warren (D-Mass.) said on social media Friday. "And oil execs should commit now: no taxpayer subsidies, no special favors from the White House."
Sam Ratner, policy director at the group Win Without War, said Wednesday that "already today, Trump was saying that US taxpayers should front the money to rebuild Venezuelan oil infrastructure, all while oil companies keep the proceeds from the oil."
"This is not just a war for oil, but a war for oil executives," Ratner added.
Noting that "Big Oil spent nearly $100 million to get Trump elected in 2024," former US Labor Secretary Robert Reich—who served during the Clinton administration—described Friday's meeting as "returning the favor" and "oligarchy in action."
According to an analysis by the advocacy group Climate Power, fossil fuel industry interests spent nearly $450 million during the 2024 election cycle in support of Trump and other Republican candidates and initiatives.
Trump shows you his priorities–Big Oil companies.“Running” Venezuela is all about enriching his donors.The American people are done fighting foreign wars to pad the pockets of oil executives.
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— Rep. Jason Crow (@crow.house.gov) January 9, 2026 at 12:35 PM
Reich and others also noted that Trump informed oil executives about the Venezuelan invasion even before he notified members of Congress.
"That tells you everything you need to know: It was never about 'narcoterrorism' and always about oil," Rep. Dan Goldman (D-NY) said on Bluesky.
The legal watchdog Democracy Forward this week filed a Freedom of Information Act request demanding information about any possible Trump administration collusion with Big Oil in the lead-up to the Venezuela invasion.
Other observers shot down assertions by Trump and members of his administration that the attack on Venezuela and Maduro's ouster are ultimately about restoring democracy.
"Want to know who’s meeting with Trump this morning about Venezuela’s future?" Rep. Adelita Grijalva (D-Ariz.) asked on X.
"Not pro-democracy leaders," she said. "Oil and gas executives."
"Big Oil's climate deception has evolved from lying about the problem to lying about solutions," said the head of the Center for Climate Integrity.
A group that supports communities' efforts to hold Big Oil accountable for decades of deception related to the climate emergency released a report on Thursday after reviewing more than 300 advertisements from four fossil fuel giants since 2000.
Over the past decade, people across academia, civil society, Congress, and journalism have examined the evolving lies of oil and gas giants, which have long been accused of using Big Tobacco's playbook.
"Using evidence from congressional investigations, advertising, and public relations documents, independent journalism, and watchdog reports," the new analysis states, "Big Oil's Deceptive Climate Ads explains how the pervasive and misleading messaging in BP, Chevron, ExxonMobil, and Shell’s advertisements has not only misrepresented the companies' business practices, but, over the span of two and a half decades, effectively cultivated a larger, deceptive narrative that oil and gas companies are leaders in the fight against climate change, when in fact they are actively fueling climate catastrophe around the globe."
The Center for Climate Integrity (CCI) report notes that "while oil and gas companies and their trade associations publicly denied the risks and realities of climate change for decades, growing public understanding of climate science around the turn of the 21st century eventually meant that outright denial was no longer sufficient to protect their bottom line."
NEW: For 25 years, four oil giants sold false climate promises through deceptive ad campaigns.Our report examined 300+ ads from BP, Chevron, Exxon, and Shell from 2000-2025. Together they push a false narrative that Big Oil is leading climate solutions. In reality, they're fueling catastrophe.
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— Center for Climate Integrity (@climateintegrity.org) December 11, 2025 at 8:54 AM
"During this period, major oil and gas companies began to reposition themselves publicly as active partners in the fight against climate change, even while they continued to increase fossil fuel production, invest minimally in clean energy, oppose energy efficiency initiatives, and promote technically or economically infeasible solutions," the document details.
"To convey this misleading image to the public," the publication continues, "Big Oil companies carried out extensive advertising campaigns, inundating the public with messaging that creates an overall deceptive portrait of their true role in the climate crisis."
CCI sorted the ads across seven categories of deception: emissions reductions, renewables investments, individual action, natural gas, carbon capture and storage, hydrogen, and algae biofuels. The group found that "these skillfully crafted advertisements often include partially truthful statements but omit relevant contextual information to create an inaccurate or incomplete representation of the initiative, product, or technology they promote."
"For instance, advertisements that portray natural gas as beneficial for the climate because it 'lowers emissions' are misleading by omission, because although gas produces less CO2 and other pollutants than coal when burned, it still emits significant quantities of greenhouse gases, including CO2 and methane, that pose a serious threat to the climate," the publication points out. "This tactic, known as paltering, has been at the core of Big Oil companies' climate advertisements for the past 25 years."

The report also acknowledges the public response: "Market research shows BP's 'Beyond Petroleum' campaign increased brand favorability among US and UK audiences, leading viewers to associate the oil giant with efforts to reduce carbon emissions at a time when it was the largest producer of fossil fuels in the UK and North America. Chevron's 'Real Issues' campaign, which promoted its energy conservation initiatives and renewables investments, improved the company's reputation among ad-exposed audiences."
The publication comes as the climate emergency continues to worsen, with deadly impacts, and world leaders fail to take adequate steps toward "a just, equitable, fossil-free future." Meanwhile, communities continue to call for not only action to limit future global warming but also consequences for the big polluters that created the global crisis.
The report similarly concludes that "oil and gas companies—including BP, Chevron, ExxonMobil, and Shell—must be held accountable for the damages their deception has caused. As climate accountability lawsuits filed by communities across the US make their way through the courts, ongoing advertising deception by the four oil majors' in this report demands further scrutiny and investigation."
CCI president Richard Wiles echoed that demand in a Thursday statement: "Big Oil's climate deception has evolved from lying about the problem to lying about solutions. For two-and-a-half decades now, these companies have sold the public a false and misleading image of their industry as working to solve the climate crisis, all while doubling down on fossil fuels and making the problem worse."
According to Wiles, "Any business that floods consumers with such brazenly deceptive advertising must be held accountable."