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Rebecca Rockefeller Lambert and Peter Gill Case launched their fund Thursday
They are great-great-grandchildren of John D. Rockefeller, who died in 1937
John D. Rockefeller opened his first oil refinery in Cleveland in 1863
Within decades Standard Oil controlled 90% of U.S. petroleum production
The Supreme Court split up Standard Oil in 1911 and the family control ended
Yet when John D. Rockefeller died he was the richest man in the world
Since 2003 his heirs have been challenging Standard Oil s offshoots, like Exxon
Some of the 270-odd descendants disagree with taking on fossil fuels
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Two great-great-grandchildren of Standard Oil Co. founder John D. Rockefeller Sr. are pouring millions of dollars into an effort aimed at supporting people on the front lines fighting new oil and gas development.
Rebecca Rockefeller Lambert and Peter Gill Case have created the “Equation Campaign” and pledged a combined $30 million of their personal wealth to the effort. Another $5 million was pledged by other sources so far, with an ultimate goal of raising $100 million.
The name of the effort comes from the idea that reducing demand for fossil fuels is only half of the “equation” when it comes to addressing global warming; the other side of the equation is cutting off the supply.
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