Posted on 08/22/2016 9:56:17 AM PDT by bananaman22
The investigation by a handful of attorneys general into ExxonMobil has much more to do with the oil major misleading investors than it does about covering up climate science.
The legal headache stems from several news reports that ExxonMobil buried decades of internal climate science in order to protect its interests. That has environmental groups crying foul, blaming the oil company for decades of policy inaction to stop the growth of greenhouse gas emissions. That also was a key reason that New York attorney general Eric Schneiderman, along with several other AGs from different states, opened up an investigation into the company.
If Exxon cannot produce all of its oil reserves because they become either legally off limits or so regulated and/or taxed that they are uneconomical to produce, then the company itself is actually worth a lot less than shareholders think.
(Excerpt) Read more at oilprice.com ...
Yes, because THE DOLLAR is only worth a fraction of what it once was.
Why has there been no comsumer price index announced for all 8 years of Odumbass’s term?
I know my average grocery bill USED TO be $150. Now I am usually spending between $300 and $400 dollars, for essentially the same spending patterns. (Actually probably less, since 2 of my costly daughters have left for college)
I remember a story a few years ago about a guy that bought every single share of a publicly traded company - and it was still trading, evern though he had it all.
That is, if the company claimed they had sold a million shares, over time, he bought a million shares. And it kept on trading. He was making a point about the fact that there are a LOT of counterfeit shares out there, and he showed how it happens.
How come the government is never prosecuted for their misleading protections? They do it all the time.
All stocks are. You will see when we have a crash.
If the government puts their reserves off limits, does that not amount to a trillion dollar theft?
And if those reserves are, many of them, on concessions they bought from the government itself, would that not amount to a trillion dollar fraud?
And if they can't produce domestic oil, doesn't that mean all that money flows offshore, Exxon invests its exploration budget overseas, puts foreign workers to work instead of our own? Hurting Exxon not one bit, but hurting the country quite a bit.
The enemedia will gladly start reporting such data on 1/21/16, and pin ALL of it on President Trump.
Same experience here - seems like food cost has gone up considerably for my family.
Gee ya think that prior year reserve vales differ at $100 oil, and today’s $40 oil?
But, lets hit them with a lawsuit, for the good of future of mankind.
Exhibit A, James Stafford, the publisher/editor also regularly writes articles for the Huffington Post.
This is stupid.
Some press guy thinks that Exxon is overvalued because future regulations that haven’t even been passed yet might make it difficult for Exxon to extract it’s oil and gas.
If regulation stupidity does happen and they make it difficult for Exxon, the price of Exxon’s oil and gas reserves will go through the roof. Because the demand for oil will still be there.
I noticed that the Exxon ads during the Olympics talked about all types of energy reduction and scientific advances, but did not mention “climate” once! I think the “environmentalists” [a current moniker for radical liberals] are not amused.
I don’t know...
Is the debt level of the only worth a fraction of it real value?
I fail to see why an oil company burying “years of global warming data” are grounds for a lawsuit.
Even if true, I would say it’s up to the gov’t to prove global warming befre a company could be open to lawsuits from shareholders.
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