Posted on 11/05/2015 12:10:39 PM PST by reaganaut1
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.
“We unequivocally reject the allegations that Exxon Mobil has suppressed climate-change research,†Mr. Cohen said, adding that the company had funded mainstream climate science since the 1970s, had published dozens of scientific papers on the topic, and had disclosed climate risks to investors.
The people with knowledge of the New York case also said on Thursday that, in a separate inquiry, Peabody Energy, the nation’s largest coal producer, had been under investigation by the attorney general for two years over whether it properly disclosed financial risks related to climate change. That investigation has not been previously reported, and has not resulted in any charges or other legal action against Peabody.
(Excerpt) Read more at nytimes.com ...
Yes, if you disagree with the Church’s ....eh Government’s position on Science, you will be burned at the stake.
Everyday the paperboy brings more.
When will the Detroit automakers receive their subpoenas?
Exxon better push back hard. This is insanity.
It really is the established State Religion demanded of the Left, isn't it? Gaia is their prophet(ess).
Is that why they can't predict the weather worth a damn? Exxon's fault?
“Exxon Mobil funded groups that sought to undermine climate science.”
Is that a fact? There were groups that sought to undermine science?
Bias much?
Yea but it’s the direct result of people determined to ‘win’ with ‘lesser evil’. Now their victory means a govt filled with leftists in both parties and no one to stop the insanity.
Actions have consequences.
Maybe I’m asking the wrong question but doesn’t GW have to be at least codified into law just to give prosecutorial legal standing?
Isn’t Exxon big enough to squash Schneiderman like a bug?
Its no coincidence that this is happening one year before the 2016 elections. Its nothing but a shakedown for political contributions from Exxon.
I read something here recently that Exxon had stopped contributing to the Clinton Foundation.
Same difference.
Under Sarbanes-Oxley, or "SOx", a public company can be prosecuted by not anticipating future risks and reporting them to investors.
However, that's federal law. New York may have a different or even more stringent interpretation. If so, I don't know why any company actually does business there, unless the return outweighs the risk.
Thought control commissars.
Just saw your post. Thanks for the clarification.
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