• 5 minutes Mike Shellman's musings on "Cartoon of the Week"
  • 11 minutes Permian already crested the productivity bell curve - downward now to Tier 2 geological locations
  • 17 minutes WTI @ 67.50, charts show $62.50 next
  • 1 day The Discount Airline Model Is Coming for Europe’s Railways
  • 5 hours Desperate Call or... Erdogan Says Turkey Will Boycott U.S. Electronics
  • 13 hours Pakistan: "Heart" Of Terrorism and Global Threat
  • 1 min Saudi Fund Wants to Take Tesla Private?
  • 2 days Newspaper Editorials Across U.S. Rebuke Trump For Attacks On Press
  • 51 mins Renewable Energy Could "Effectively Be Free" by 2030
  • 9 hours Starvation, horror in Venezuela
  • 18 hours Venezuela set to raise gasoline prices to international levels.
  • 2 days Batteries Could Be a Small Dotcom-Style Bubble
  • 12 hours Are Trump's steel tariffs working? Seems they are!
  • 1 day Scottish Battery ‘Breakthrough’ Could Charge Electric Cars In Seconds
  • 2 days France Will Close All Coal Fired Power Stations By 2021
  • 2 days Don't Expect Too Much: Despite a Soaring Economy, America's Annual Pay Increase Isn't Budging
Peak Lithium Won’t Happen Anytime Soon

Peak Lithium Won’t Happen Anytime Soon

Peak lithium is not happening…

Judge Deals Exxon Blow In Climate Cover-Up Case

Oil barrels

A federal judge has put an end to Exxon’s attempt to sue the district attorneys of New York and Massachusetts for investigating the company with relation to its alleged cover-up of its knowledge of climate change and the effects its business had on the environment.

Manhattan judge Valerie Caproni dismissed as “implausible” Exxon’s argument that New York’s DA Eric Schneiderman and Massachusetts’ Maura Healey were on a political quest against the company, seeking to violate its constitutional rights.

The dismissal of the case was made with prejudice, meaning Exxon cannot bring it again, Reuters reports.

Exxon is being sued by employees and shareholders on allegations of knowing about the effects of the oil industry on climate change for decades but deliberately withholding the information from the public and from shareholders.

It is also being sued by several municipalities in California that argue its activities in the state have had a harmful impact on the environment. They are seeking billions in compensation from Exxon and a number of other oil supermajors.

Exxon struck back at those, too. In January, the company asked a California district court for permission to question a number of government officials and an attorney from Hagens Berman, arguing that these individuals have told the court one thing in their lawsuits against Exxon and a completely different thing to prospective bondholders about the effect of the energy industry on the local environment.

Related: Will Lithium-Air Batteries Ever Become Viable?

For example, Exxon says in its court filing against energy companies, San Mateo County has stated that it is very vulnerable to rising sea levels with a 93-percent risk of suffering a devastating flood before 2050. At the same time, however, two bond offerings, one from 2014 and one from 2016, say something very different, namely that San Mateo County “is unable to predict whether sea-level rise or other impacts of climate change or flooding from a major storm will occur.”

As regards its next steps in the New York and Massachusetts case, Exxon’s spokesman Scott Silvestri told Reuters the company was evaluating its options.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News