In a deal brokered by the city’s newly commissioned Citizens Environmental Task Force, Exxon/Mobil, owners of the Exxon/Mobil Refinery in the City of Torrance agreed today to fund a bond that will make low cost financing of solar energy systems for home and apartment owners. The loans for solar power, authorized under California’s AB 811, are added as assessments to a homeowner’s property tax bills and are passed on to the new owner if a home is sold.
Without Exxon Mobil’s funding of the financing bonds the program would not have had the money to offer loans in Torrance. The city had no money in the budget to make the program possible and no plans to find any in the midst of the on-going economic crisis. But Exxon/Mobil had no such money problems. “We’ve had one record profit quarter after another,” said a spokesperson for the oil company.
“We are so cash rich at the moment that we’re spending money all over the place while everyone else is forced to cut back. We know carbon taxes are coming and we won’t always be floating in a sea of profits we made at your expense. So it seemed only logical that we give a little back to a community we’ve released an awful lot of carbon in. Hell, that entire property our refinery’s on will probably be a superfund site after they force us to stop producing our fossil fuels.“
Continue reading ➞ Exxon/Mobil To Fund Solar Financing Bond For Torrance Homeowners