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posted by martyb on Friday November 06 2015, @10:17PM   Printer-friendly
from the "ExxonMobil"-is-not-"Exxon-Mobil" dept.

Exxon Mobil is facing an investigation by New York's attorney general:

New York's attorney general would like to know: Did Exxon Mobil lie to you about the risks of climate change and to investors about how those risks might reduce profits?

Attorney General Eric T. Schneiderman's office confirms that a New York Times story is correct in reporting that an investigation has been launched into Exxon Mobil. That story said Schneiderman issued a subpoena on Wednesday, seeking financial records, emails and other documents.

The goal is to examine whether back in the 1970s, Exxon Mobil funded groups to undermine scientific studies involving climate change. Also, the attorney general is investigating whether the oil giant properly informed its investors of the profit risks that might arise as countries cut back on fossil fuels.

In a statement, Exxon Mobil confirms it is under investigation and says its executives "unequivocally reject allegations that ExxonMobil suppressed climate change research."

[More after the break.]

From that New York Times story:

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 investigation focuses on whether statements the company made to investors about climate risks as recently as this year were consistent with the company's own long-running scientific research. The people said the inquiry would include a period of at least a decade during which Exxon Mobil funded outside groups that sought to undermine climate science, even as its in-house scientists were outlining the potential consequences — and uncertainties — to company executives.

[...] News reporting in the last eight months added impetus to the investigation, they said. In February, several news organizations, including The New York Times, reported that a Smithsonian researcher who had published papers questioning established climate science, Wei-Hock Soon, had received extensive funds from fossil fuel companies, including Exxon Mobil, without disclosing them. That struck some experts as similar to the activities of tobacco companies. More recently, Inside Climate News and The Los Angeles Times have reported that Exxon Mobil was well aware of the risks of climate change from its own scientific research, and used that research in its long-term planning for activities like drilling in the Arctic, even as it funded groups from the 1990s to the mid-2000s that denied serious climate risks.

Related: Investigation Finds Exxon Ignored its Own Early Climate Change Warnings


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  • (Score: 0) by Anonymous Coward on Saturday November 07 2015, @06:48PM

    by Anonymous Coward on Saturday November 07 2015, @06:48PM (#260048)

    No, it's global warming you are referring to.

    It is the republican party with their conservative wordsmiths that came out with "Climate Change". If you are going to diss the big government, make sure you don't mind losing a few windows in your glass house, because your stones are gonna break them.

  • (Score: 0) by Anonymous Coward on Saturday November 07 2015, @11:52PM

    by Anonymous Coward on Saturday November 07 2015, @11:52PM (#260153)

    losing a few windows in your glass house

    ...will diminish the greenhouse effect.