Did ExxonMobil commit securities fraud by denying climate change?

csm ^ | 11-9-2015 | Mike Tokars

[Citizen Zed]

New York state's attorney general, Eric Schneiderman, and US Rep. Ted Lieu (D) of California are both looking into whether the world's largest publicly traded oil and gas company intentionally misled the public and company shareholders about its own knowledge of climate change and the inherent risks it posed to the oil industry.

The outcry started in September, when InsideClimate News published an investigation asserting that, since the 1970s, ExxonMobil, has known of fossil fuels' contribution to climate change. The company's own scientists are said to have raised concerns that were contradicted by executives. Another inquiry published in the Los Angeles Times in October also exposed the gap between ExxonMobil's public and private narratives over melting ice in the Arctic.

New York Attorney General Schneiderman launched his own probe last week. A New York state law called the Martin Act gives the Attorney General uniquely wide authority to prosecute securities fraud.

[SeaHawkFan]

Exxon has lots of money; and a great defense.

Exxon is building a $6 billion expansion project in Baytown, TX, where I live. If some government lawyer thinks they can be intimidated; good luck with that.

I doubt the government is going to enjoy the discovery process

[Rodamala]

Where is that mutant Henry Waxman? He would be the perfect schmuck to go after Big Oil like he did Big Tobacco. It sounds like the same exact witchhunt actually.

[Tilted Irish Kilt]

(article) : " New York Attorney General Schneiderman launched his own probe last week.
A New York state law called the Martin Act gives the Attorney General uniquely wide authority to prosecute securities fraud."

NY Attorney General Schneiderman forgot he was elected by the people of New York to represent their consumer interests
He overlooked (Democratic)Asseblyman Sheldon Silver getting money from lawyers involved in litigation which he promoted ,
He overlooked (GOPee ) Senate Chairman Skelos who got his son an income and a 'no-show ' job thru extorsion.
He forgot the "Three Men In a ROOM" who decide New York politics behind closed doors,
He quit investigating corruption in NYS when told to do so by the third man in the room , Gov. Cuomo ,
but he rmmembered to go after 'big pockets' over psyhco-science of GLOW-BULL wrming
since CUOMO has a bridge to pay for going to New York CIty !!
That's not what got him elected !!
He's not doing his job, .. why he was elected , for the citizens of New York State !

[Hostage]

> “Did ExxonMobil commit securities fraud by denying climate change?”

No one should deny climate change because it happens as surely as the Earth revolves around the Sun.

However, man-made Climate Change is a fraud and Exxon should not be disclosing any risk to a fraud.

[Tilted Irish Kilt]

(correction) the statement - 'GLOW-BULL warming'
should be 'GLOWBAL-WORMING' - for taxation !!
and to afford CUOMO to build a bridge to NYC

[Elsiejay]

I need referrals to good articles rationally opposing the global warming baloney/scaremongering.

[Kickass Conservative]

Sure why not. Heck, all of us are obviously Co-conspirators.

[Bob434]

[[These A-holes are going to force a lie to be a truth if they have to bankrupt the entire World doing so.]]

Precisely. The evidence proves them wrong, but they are so entrenched in the lie that they will force everyone to accept it while ignoring the actual facts- it’s no longer about science, it’s about conformity- forced conformity

[Bob434]

[[These A-holes are going to force a lie to be a truth if they have to bankrupt the entire World doing so.]]

And not only that but the left ARE going to force people off fossil fuels by bankrupting oil companies which will drive the price of fossil fuels through the roof- they are going to do with oil what they did with smoking- raise the prices so high hardly anyone can afford it anymore-

[catfish1957]

EM could sell their assets in NY, and tell the AG to stick it up his ass. Love to see his constituency reaction when overall gas prices go up 5- 8 cents a gallon due to less competition.

[Bob434]

Thanks to the betrayal by exxon- the left will now get to say “Even big oil believes they are causing climate change” to support hteirl ie even further- because ‘big oil’ was ‘the last holdout’ when it came to believing in man-caused climate change- at least that;s how the left WILL portray it and it WILL further convince people that man is ruining the world-

The bible talks about a powerful delusion coming upon the world I nthe last days- and one has to wonder if this colossal LIE might not perhaps be this powerful delusion because so many people have fallen for this complete lie!

[wjcsux]

Exxon Mobil should pull out of NY and quit doing business there. See what happens to energy prices in the Empire State.

[publius911]

The outcry started in September, when InsideClimate News published an investigation asserting that, since the 1970s, ExxonMobil, has known of fossil fuels' contribution to climate change.

Interesting; That the fundamental premise is not examined before anything else.

Seems logical that the first step of the process should be the validation and verification of the premise.

Where is the record of the required legal foundation specified in the Federal Manual of Legal Procedure, for issues related to Science, which may have transcendental serious and long lasting effects on the national health, safety and welfare of its citizens? All of it, including financial factors.

If it is determined that Climate change is a natural, random and unpredictable process beyond the reach of any effect by man, whatever else is arbitrarily imposed can be judged unconstitutional, if the price is found to be unreasonable.

[Lurkina.n.Learnin]

Government ain’t nothing but a bunch of thugs.

[ichabod1]

Global warming is real its very real and big corporations like big oil should not be allowed to be denires. /s

[ichabod1]

I get that. Wu’s pigs. F’in Wu.

[ichabod1]

That the one with the big hairy nostrils?

[catfish1957]

Dang, I wish HBO would have given a proper finish to Deadwood.

[justa-hairyape]

This is why the global warming followers can never admit they were wrong. Massive trials for fraud. They always project that which they fear.

[Smokin' Joe]

Where is that mutant Henry Waxman? He would be the perfect schmuck to go after Big Oil like he did Big Tobacco. It sounds like the same exact witchhunt actually.

Spawn of Bat Boy?

This is the same sort of attack.

The tobacco companies were required to submit to testing for tar and nicotine content of cigarettes. (Back when you could smoke just about anywhere, and lots of people did--before warnings or bar codes on the packs).

They did, and the gubmint published a list of who had how much tar and nicotine in their cigarettes.

The problem, of course, is that tobacco is a plant. Not every crop, not even every leaf in the plant has the same tar and nicotine content, and to keep consistent with what the test results produced, the companies (which already blended tobacco for flavor) now had to ensure their nicotine and tar content didn't vary too far from the test results or they'd be gigged for providing light loads for the tests...

Then the Government attacked the companies for ensuring there was a specific amount of tar and nicotine "to keep people addicted".

Yep, that a result of none other than government piddling in the industry in the first place.

Before proving any fraud, the Government must first prove "Climate Change".

This could be another 'Scopes Trial' before it is over. Pray (because nothing is guaranteed in a court of law) we can be rid of this lunacy, once and for all.