Stanford U. Loses $2.5-Million Over Big Oil Deal

A philanthropist who has donated more than $20-million to Stanford University has rescinded a $2.5-million pledge after seeing a television commercial that touted Stanford’s partnership with the oil company Exxon Mobil, reports The San Jose Mercury News.

Exxon has promised to give Stanford $100-million over the next 10 years to finance research on energy issues and climate change. To promote the deal, Exxon broadcasts commercials featuring children and takes out advertisements in major newspapers.

But outrage over the partnership caused the movie producer Steve Bing, who attended Stanford, to call Stanford’s president and withdraw a recent pledge. Mr. Bing—who said Exxon is trying to “greenwash” itself by exploiting Stanford’s name—is encouraging other philanthropists to boycott Stanford.

Stanford and Exxon defended the partnership and the commercials, saying that the money would not unduly influence Stanford’s research and that it was important to promote the collaboration to inform the public.