Exxon Mobil Under Investigation in New York Over Climate Statements

[Truprogressive85]

Source: New York Times

The New York attorney general has begun a sweeping investigation of Exxon Mobil to determine whether the company lied to the public about the risks of climate change or to investors about how those risks might hurt the oil business.

According to people with knowledge of the investigation, Attorney General Eric T. Schneiderman issued a subpoena Wednesday evening to Exxon Mobil, demanding extensive financial records, emails and other documents.

The focus includes the company’s activities dating to the late 1970s, including a period of at least a decade when Exxon Mobil funded groups that sought to undermine climate science. A major focus of the investigation is whether the company adequately warned investors about potential financial risks stemming from society’s need to limit fossil-fuel use.

Kenneth P. Cohen, vice president for public affairs at Exxon Mobil, said on Thursday that the company had received the subpoena and was still deciding how to respond.

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Read more: http://www.nytimes.com/2015/11/06/science/exxon-mobil-under-investigation-in-new-york-over-climate-statements.html?module=Notification&version=BreakingNews&region=FixedTop&action=Click&contentCollection=BreakingNews&contentID=54203519&pgtype=Homepage&_r=0

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Impact: http://www.nationofchange.org/2015/10/21/bernie-sanders-calls-for-federal-investigation-of-exxon/

[houston16revival]

1. Oily Truthiness

I doubt lies to the public will be a problem. All corporations and politicians
lie at some point to further their goals.

The problem is in investor information. But even there, even if climate change were
known at that time, how could one quantify the changes to inform the investor class?
Not enough was known back then.