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'Wow Wow Wow... Huge News' as New York Sues ExxonMobil for Defrauding Investors by Hiding Climate Threat

'Wow Wow Wow... Huge News' as New York Sues ExxonMobil for Defrauding Investors by Hiding Climate Threat

Jessica Corbett, staff writer

After a three-year probe and amid mounting demands that the fossil fuel industry be held accountable for driving the climate crisis, New York Attorney General Barbara Underwood on Wednesday filed suit against ExxonMobil, the world's largest oil and gas company, for defrauding investors by downplaying the financial threat of regulations crafted to mitigate human-caused global warming.

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The question is will they pay damages before the oil runs out or before global warming renders the issue moot.

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Has money lost its flavor?

In the world of capitalism, one has no rights if one has no money to invest. I would be more impressed when these companies are sued for the damage they do to the “general welfare” of the living.

Peace.
ths.

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LOL Oil Companies and especially you Exxon! I can’t remember who wrote this but it fits Exxon perfectly.

'Oh what a tangled web we weave , when first we practice to deceive."

Ha, ha Exxon and thank you Barbara Underwood for the successful job catch of the Spiders and their nefarious web of lies!

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Corporations are designed to have their charters canceled for continued long-term nefarious behavior contrary to health of society and Earth. Stockholders and officers are not innocent in this case.

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Now it has to get past the SCOTUS.

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https://www.enotes.com/topics/marmion/quotes/oh-what-tangled-web-we-weave-when-first-we

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HI Giovanna-Lepore: THANK YOU for the information
.So for everyone else, It’s from Sir Walter Scott and tells the tale of Lord Marmion of Fontenaye ( a despicable man) and we learn what his future will be as the battle nears. This is wonderful to know and Exxon can be Marmion, who just has to end badly and the PEOPLE can all be Wilton the wronged! : )

If the Supreme Court stops this lawsuit from proceeding, We the People must stop this So-called Supreme Court.

Bought and paid for politicians are one thing, but Supreme Court Justices are another.

Oh, I forgot about, “I like beer.”

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NY State is to be commended. It will need a lot of luck to prevail, as ExxonMobil (and, more to the point, its insurers and reinsurers) has unlimited funds to fight.

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They can not stop this well from leaking. The Company that caused it need only declare bankruptcy and no one is liable for the damages. Corporations have “limited liability” The system protects these guys.

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I agree that the big test will be what happens when this is appealed all the way up to the Supreme Court.

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If that happens it is a lost cause guaranteed.

In that case, the decision is already made: Money trumps survival for those less well off.
Denial of catastrophic climate change is an act of war with the same gruesome results.

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Even if by some miracle this lawsuit would get anywhere, being forced to pay less than a fraction of their earnings from the crime in “damages” is no punishment at all, and not even close to what these ecocidal mass murderers deserve.
These people have literally killed us and everything around us, a crime of such monumental proportions it is almost unfathomable. And we are looking to sue them?

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I’m not sure what I think about it, but if the logic is good, then shouldn’t we do the same thing to the nuclear industry, like yesterday?

They lied to investors because no one factored in what it costs to store toxic waste for 10,000 years. And no one factors in accidents like Fukushima that still has 3 reactors in meltdown.

I don’t see how that wasn’t or isn’t defrauding investors.

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While the reports are suggesting ExxonMobil and oil industry have known about
Global Warming since the 1980’s, I think prior reports have said internal documents
showed they’ve known since 1948 – which makes more sense.

Scientists actually recognized the harm being done to Nature/trees by the late 1880’s
and the beginning of the Industrial Revolution –

The 1950’s were very significant as scientists like Rachel Carson were still free to study
the impact on Nature – and the use of chemicals had exploded by that time – DDT was
still being used and sprayed everywhere, including on farms and animals and just generally
into the air – and now has been connected to the spread of polio. Post WWII, US fruits and
vegetables were being grown with the aid of pesticides which were said to be reducing the
nutrition of the nation’s food. Rachel Carson was showing how these chemicals were doing
much more. And then came JFK – a president who was curious about everything - a reader.

By 1957, the model of Global Warming was being presented to the public on TV.
And then, Rachel Carson was dead and so was President Kennedy – and our people’s
government and its agencies began to be moved into the hands of Elites/corporations.

There is no undoing the harm that has been done to Nature and I guess we can begin with the
early 1900’s and the replacing of the electric car with the gasoline driven engine; and from what
I’ve read the government did all it could to help put gas stations on every street corner. From
the very beginning we’ve had a government dedicated to Elite-Patriarchy and to Capitalism.
(See: Brig. General Stanley Darlington Butler/War is a Racket! which you can read on internet.)
And basically a government privatized on Day #1 of our Constitution for Elites.

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I think the petro dollar and our relationship with Saudi Arabia plays so much into that… putting a gas station on every corner, and going from electric to gas. - Subsidizing fossil fuels while taxing solar… i mean it suddenly makes sense if you look at it from that perspective.

I didn’t know they had electric cars before that? But I know the model T was the 30’s or so and Tesla had done most of his work before 1910 so i guess it doesn’t surprise me.

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Nacho –

Somewhere I have an article from the NY Times, probably around the 1980’s where they
were pretty much saying … “Hey, when we have to stop production of oil due to Global Warming,
how about subsidizing us for our losses?”

I’m not someone who can speak to the extent of long ago US relationships with Saudi Arabia,
but a little search gives some history –

Saudi Arabia–United States relations refers to the bilateral relations between the Kingdom of Saudi Arabia and the United States of America. It is a Special Relationship, which began in 1933 when full diplomatic relations were established. Despite the differences between the two countries—an ultraconservative Islamic absolute monarchy, and a secular, constitutional republic—the two countries have been allies. Former Presidents George W. Bush and Barack Obama have close and strong relations with senior members of the Saudi Royal Family.[1]

And I would say as soon as you see any appearance of the Bush Family you are talking about CIA/MIC.
Possibly same for Obama. And you are looking at what usually ends up as infiltration and interest in
“real estate” over long range. If I recall, as well, what Michael Moore has told us about Saudi money
invested in business/property holdings here in US, it is quite extensive. According to Tom Hartmann the
Military uses 80% of our oil. The intertwining of interests is amazing and carries a lot of possibilities.

There were electric cars 100 years ago – and many cities had electric trolleys - Boston still has them.
But either before the end of WWI or just after, General Motors was very active in destroying much of
public transportation – from trolleys, to overhead railroads, to even buses.

General Motors streetcar conspiracy - Wikipedia
en.wikipedia.org/wiki/General_Motors_streetcar_conspiracy
The General Motors streetcar conspiracy refers to convictions of General Motors ( GM) and other … During this period GM worked with Public Service Transportation in New Jersey to develop the “All-Service Vehicle”, … the Pacific Electric and Los Angeles streetcar systems leaving the electric train system totally destroyed.
.

The GM Trolley Conspiracy: What Really Happened - CBS News
www.cbsnews.com/news/the-gm-trolley-conspiracy-what-really-happened/
Sep 3, 2010 … Did General Motors really plot to kill the streetcar in Los Angeles to build … millions of Americans without viable public transportation options.

Early Raid Transit in NYC – Elevated Trains
The elevated trains were initially operated with steam engines pulling the cars but by the beginning of the 1900s, electrification was underway, with the wooden coaches being converted for electric operation. The various Manhattan elevated lines were consolidated and eventually leased to the IRT in 1903. Most of the elevated tracks were taken down in the 1940s, with only the Third Avenue Elevated in Manhattan surviving to 1955. The Bronx portion of the 3rd Avenue line survived to April 1973.
https://www.nycsubway.org/wiki/Early_Rapid_Transit_In_New_York

The Rise of the Early Electric Car –
During the early years of the “Automotive Age,”—from about 1896 to 1930—as many as 1,800 different car manufacturers functioned in the U.S. While innovators in Europe had been working on battery-powered vehicles since the 1830s, the first successful electric car in the U.S. made its debut in 1890 thanks to a chemist from Iowa. His six-passenger was basically an electrified wagon that hit a top speed of 14 mph.
When Henry Ford introduced the mass-produced and gas-powered Model T in 1908, it symbolized a death blow to the electric car. By 1912, a gasoline car cost only $650 while the average electric roadster sold for $1,750. In 1912 Charles Kettering also invented the first electric automobile starer. Effectively eliminating the hand crank, Kettering’s invention made the gas-powered auto even more attractive to the same drivers who had preferred electric cars.
https://www.curbed.com/2017/9/22/16346892/electric-car-history-fritchle

U.S.-Saudi Relations | Council on Foreign Relations
www.cfr.org/backgrounder/us-saudi-relations
May 12, 2017 … The U.S.-Saudi relationship, long bound by common interests in oil and security, … U.S. businesses have been involved in Saudi Arabia’s oil industry since … The United States, Saudi Arabia, and Pakistan supported Afghan …

Relations of Saudi Arabia and the United States - Wikipedia
en.wikipedia.org/wiki/Saudi_Arabia–United_States_relations
Saudi Arabia–United States relations refers to the bilateral relations between the Kingdom of … CASOC was later renamed the Arabian-American Oil Company ( Aramco). The agreement … Saudi Arabia was cautiously supportive of a Western-negotiated interim agreement with Iran over its nuclear program. President …

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