If you'd said a hundred years ago that the offspring of John D. Rockefeller would lead the charge for improved corporate governance, social responsibility, and an end to energy dependence and global warming, a lot of people would have laughed. But Neva Rockefeller Goodwin and Peter O'Neill, descendants of John D. Rockefeller, are pushing for change at Exxon Mobil (NYSE: XOM).

Three resolutions supported by the family have no chance of passing, according to the New York Times. One asks Exxon Mobil to study the impact of global warming on poor countries and another asks it to reduce its emissions. A third would encourage it to spend more money on research into renewable energy sources.

The resolution most likely to pass seeks to separate the role of chairman and CEO, stripping imperial executive Rex Tillerson of a chunk of his power. (To get an idea of how he runs the company from a corporate governance perspective, check out Robert Monks' book Corpocracy. )The Economist describes Exxon's annual meeting as "a vigorous exercise in doing the minimum required by the law." The Rockefeller's and others are looking to change that.

Operationally, the change would probably have no impact on the company's strategy or value. But in the long run, good corporate governance and stewardship of shareholder assets can be key contributors to total return.

As was reported in AP online, "Members of the Rockefeller family are pressuring Exxon Mobil (NYSE: XOM) to focus more on renewable energy. The family members, who say they are the oil giant's longest continuous shareholders, say Exxon is too focused on short-term gains from sky-high oil prices. They also argue splitting the roles of chairman and CEO will help the company be more flexible in the future."

Last time I checked, companies had a responsibility to provide value for shareholders, and no one has done it better than the oil giant. It has been producing record earnings quarter after quarter, and that is exactly what it is supposed to do. Corporations are not supposed to be politically correct organizations that throw money around at the latest fad. Maybe Exxon doesn't believe that there is a global warming problem? Or maybe it wants to see a lot more scientific evidence of the problem before committing billions and billions of dollars to research. If I were a shareholder, I would want management to take the exact approach that it has been taking. The fact that it is the most profitable company in the world means something. It should be commended for providing shareholder value.

In fact, Bloomberg has an article that says that ocean cooling will stop global warming. Moreover, the article indeed mentions that the authors tried to spin the article because of Exxon. "We thought a lot about the way to present this because we don't want it to be turned around in the wrong way," Keenlyside said. "I hope it doesn't become a message of Exxon Mobil and other skeptics."

Sounds to me that they are right to be skeptical.

Aaron Katsman is the lead Portfolio Manager and Managing Director of America Israel Investment Associates, LLC. and Senior Editor of IsraelNewsletter.com. DISCLOSURE: Writer's fund has no position in any stock mentioned, as of 5/1/08

Don't bite the hand that feeds you. John D. Rockefeller founded the company that eventually became Exxon Mobil (NYSE: XOM) and now his family wants changes in governance at the firm. They would do best to keep their opinions to themselves.

According to The Wall Street Journal, the family's proposals "include urging the company to create an independent chairman post, cut greenhouse-gas emissions and examine whether Exxon should take a more active role in developing sustainable energy technologies."

Most of the proposals are useless. It is unlikely that having a separate chairman at a large, successful firm such as Exxon would have any practical purpose. Developing new forms of alternative energy is essentially the job of smaller companies that will eventually compete with Exxon for business.

Over the last five years, Exxon shares have gone from under $36 to more than $90. The company also pays a dividend yield of 1.5%. The Rockefellers have done unusually well. The should stay out of Exxon's hair and go back to being rich.

Douglas A. McIntyre is an editor at 247wallst.com and author of the Ten Stocks Under $10 Letter.