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New York City is suing five major oil companies, claiming they have contributed to global warming. Mayor Bill de Blasio says the city will be seeking billions in the lawsuit to recoup money spent by the city for resiliency efforts related to climate change. The defendants in the city's federal lawsuit are BP, Chevron, ConocoPhillips, Exxon Mobil and Royal Dutch Shell. A BP spokesman declined comment. A Shell spokesman said climate change is a complex issue that should not be addressed by the courts. The other three did not immediately comment.
originally posted by: seasonal
a reply to: Groot
I think we need to cut the oil companies being named in the suits corp taxes further to off set the cost of defending themselves.
Mayor Bill de Blasio says the city will be seeking billions in the lawsuit to recoup money spent by the city for resiliency efforts related to climate change.
originally posted by: Themaskedbeast
“Notwithstanding their claims of imminent, allegedly near-certain harm, none of the municipalities disclosed to investors such risks in their respective bond offerings, which collectively netted over $8 billion for these local governments over the last 27 years,” Exxon argued.
“To the contrary, some of the disclosures affirmatively denied any ability to measure those risks; the others virtually ignored them,” the company said.
Exxon wants the court to order a number of California local government officials to answer questions under oath that it claims will expose the basis of the argument the cities are attempting to make as erroneous and moot.
“It is reasonable to infer that the municipalities brought these lawsuits not because of a bona fide belief in any tortious conduct by the defendants or actual damage to their jurisdictions, but instead to coerce ExxonMobil and others operating in the Texas energy sector to adopt policies aligned with those favored by local politicians in California,” Exxon argued.
originally posted by: ketsuko
Basically, this represents cash-strapped cities trying to turn themselves in to the new class of tobacco settlement beneficiaries.