The Self-Righteous Rich: Rockefeller Family Fables

SHARON SMITH | Counterpunch | Thursday, May 8, 2008



On April 30th, reporters flocked to the penthouse suite of a Midtown Manhattan hotel where fifteen representatives of the Rockefeller dynasty were holding court. There, the Rockefellers chastised oil giant Exxon-Mobil for failing to invest in “alternative energy” sources, invoking their own moral authority as Exxon-Mobil’s longest standing shareholders.

Family spokesperson Neva Rockefeller Goodwin sanctimoniously recalled the memory of her great-grandfather, John D. Rockefeller, founder of Standard Oil and originator of the family fortune. “Kerosene was the alternative energy of its day when he realized it could replace whale oil,” she argued. “Part of John D. Rockefeller’s genius was in recognizing early the need and opportunity for a transition to a better, cheaper and cleaner fuel.”

But the indignation of today’s generation of Rockefellers—who inherited their own exorbitant wealth from Standard Oil, Exxon-Mobil’s parent corporation—is aimed more at ensuring the continued financial health of the family’s trust funds than concern for the future of the world’s population. As Peter O'Neill, great-great-grandson of John D. Rockefeller, commented at the press conference, “I have a world of respect for what the company has done well. In fact, if the next 20 years of the energy business were just going to be about oil and gas, we probably wouldn't be here today.”

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