Knowingly Destroying the Planet? Boys Will Be Boys. Cheating Investors? Oooh, That’s Bad.
From The Wall Street Journal: Exxon Mobil Corp. and New York’s attorney general are headed for a showdown this week over accusations the company deceived investors, a rare trial over how the oil industry accounts for the impact of climate change. The trial, which begins Tuesday in state court in Manhattan, is the culmination of a sprawling four year investigation.
ExxonMobil knew as early as the late 1970s that greenhouse gas emissions from the combustion of fossil fuels would soon warm the Earth’s atmosphere, and result in dozens of different forms of profound and long-term environmental damage. In fact, the predictions made by their own scientists and presented to the executive team 40 years ago have proved to be frighteningly accurate. That Exxon chose to ignore these warnings and instead, launch a decades-long campaign of deceit as to their nature, might seem to be the type of evil that criminal law is in place to deter. Ah….no; that’s not the case at all.
The substance of this case is that, via these disinformation offensives to throw the scientific community and the public off the track until repair efforts would come too late, Exxon simultaneously misrepresented its balance sheet, i.e., the value of its assets, to its shareholders, and that’s a huge no-no here in the U.S., a country in which money talks and you-know-what walks.
Our troll here at 2GreenEnergy will be along any minute to opine that this is all frivolous, and that New York’s AG is a vain fool, or that petroleum builds strong bones and is part of a nutritious breakfast. Who knows? Readers, however, may wish to think for themselves, and to read a few of the 3.6 million articles covering the subject.
Craig,
Thank you for the introduction.
Curious, on the one hand you say “Readers may wish to think for themselves”, but if they do, and dissent from your opinion, you ridicule and call them names. Kinda, strange don’t you think?
The New York State Attorney-General is the last man standing in what was once a crowded field of litigant across the US and in many other countries.
In every other jurisdiction, the litigants opposing Exxon either lost, gave up or settled. in some cases, entire municipalities lost vast sums in legal costs leading some taxpayers to sue the litigators.
New York had to rig the rules and pass new legislation to allow this suit wish it already concedes would be struck down if successful by a federal court.
The Attorney-General claims he is seeking a “moral’ victory. Such is not the purpose of a court, Moral victories are of a political nature and must be achieved by putting such matters to the voter.
The New York Attorney-General is no fool. (I don’t know if he is vain or not), but he is an overly ambitious politician seek to grandstand his political advancement ant the taxpayers expense.
That, IMO, makes him a knave not a fool.
As 11 other judges have found, there is simply no case for Exxon to answer!
Craig, before you call me names, consider this:
MP: Today I drove to my place of business, as I have for many years, in my all electric vehicle.
Craig: Today I filled up my car with gasoline, while calling an EV owner a Troll!
As I’ve said before, intolerance, hatred and narrow thinking doesn’t require anyone to ‘make’ a foolof you, when you are doing such an excellent job all by yourself!
When you can refute my facts or the accuracy of my sources and information, I’m only to happy to be corrected.
I never disagree or ridicule anyone without possessing more accurate information. I respect everyone’s right to an opinion, as long as they don’t claim an opinion as fact.
Can you say the same ?