Posted on 08/03/2018 12:58:43 PM PDT by yesthatjallen
The Securities and Exchange Commission (SEC) has closed an investigation into oil giant Exxon Mobil Corp. without taking any action.
The probe was opened in 2016 to examine how Exxon Mobil accounts for its oil and natural gas reserves and factors the costs of climate change into its operations, including whether it is truthful enough with shareholders about the financial risks of climate change and climate policies.
Exxon Mobil provided a letter from the SEC Friday saying that the investigation had been closed with no action, but that such a notification was not an exoneration. The SEC doesn’t comment publicly on its investigations.
“The SEC initiated its investigation in January 2016, and ExxonMobil cooperated fully with the inquiry, ultimately producing more than 4.2 million pages of documents. After a thorough investigation, including a review of these documents, the SEC issued its closure letter,” Exxon Mobil spokesman Scott Silvestri said in a statement.
Activists have for years tried to hold Exxon Mobil financially accountable for its contribution to climate change. The campaign has included ongoing investigations by the New York and Massachusetts attorneys general into potential fraud, lawsuits and shareholder resolutions to increase transparency.
Exxon Mobil has fought most of the efforts, but it cooperated with the SEC one.
“As we have said all along, the SEC is the appropriate entity to examine issues related to impairment, reserves and other communications important to investors,” Silvestri said. “We are confident our financial reporting meets all legal and accounting requirements.”
Too bad the loser doesn’t pa the bill. In this case, the person who pushed the SEC to investigate.
In other words, Obama scum wanted to harass and oil company for no real reason.
They were likely trying to set a precedent where they could then keep expanding their demands until they could control energy companies simply by invoking 'climate change concerns'.
A bogus investigation started by the Obama Administration. Even if Hillary had been elected, this was going nowhere. Exxon has boatloads of money and the law on their side.
OK!! Everybody pay attention!
Lesson for today:
1. The sun is 1,300,000 times as big as the earth.
2. The sun is a giant nuclear furnace that controls the climates of all its planets.
3. The earth is one of the sun’s planets.
4. The earth is a speck in comparison to the size of the sun.
5. Inhabitants of the earth are less than specks.
Study Question: How do less-than-specks in congress plan to control the sun?
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