In the wake of allegations that Exxon knew about risks from climate change decades ago but chose to sow doubt about them, Reps. Ted Lieu, D-Calif., and Peter Welch, D-Vt., are asking colleagues to join them in a letter to other corporations asking if they did the same thing, The Hill reports.
Legal experts have told The New York Times that it's significant that Exxon did publish peer reviewed climate research, in contrast to tobacco companies in the late 1990s, who tried to hide evidence of its addictiveness and potential damage.
Likening the company behavior to that of tobacco firms in the 1980s, Al Gore has called for an investigation into allegations that Exxon knew about the dangers of climate change decades ago but deliberately downplayed the risks, The New York Times reports.
Inside Climate News says it has uncovered evidence that officials at oil giant Exxon knew almost four decades ago of the threat posed by greenhouse gas emissions, but worked to downplay it and torpedo proposed solutions.
There is great potential for problems for major oil companies drilling in Iraq: Thus far Kurds have taken control of the Kirkuk oilfield where Exxon said earlier in the year it has two rigs operating, and pipelines carrying oil from the field appear to run through an area now under control of ISIS militants, The Wall Street Journal reports.
Disruption at oil facilities – those operated by Exxon as well as Shell’s Forcados terminal – caused a 9 percent drop in Nigerian oil revenue in April, according to figures from the country’s finance ministry, Platts reports.
The first Arctic well drilled jointly by Exxon and Rosneft is due to start this year, a sign that deepening cooperation between the two oil giants isn't being held back by continued bickering between the U.S. and Russian governments, according to Bloomberg.
NEW YORK (AP) — Exxon Mobil says the drive for higher living standards around the world will keep demand for electricity and transportation fuels growing even as economies get more efficient and governments put a price on pollution.
Barack Obama’s Paris promise to join other countries in doubling support for energy innovation and research may be harder for Republicans to fight than other moves to come out of the global climate conference, E&E reports.
One estimate says the climate talks taking place in Paris will emit the equivalent of 300,000 tons of carbon dioxide—although the French government has promised to offset the total with an investment in the United Nations Adaptation Fund, National Journal reports.
With its members’ net worth of $350 billion, the Breakthrough Energy Coalition co-founded by philanthropist Bill Gates could well attract attention from investors who haven’t looked seriously at clean energy projects before, E&E reports.
With low oil prices expected to keep drilling depressed next year, Schlumberger—the biggest global provider of oil field services—said Tuesday it will cut jobs beyond the 20,000 already axed this year, resulting in a charge of $350 million in the fourth quarter, Reuters reports.
Expectations that OPEC would continue to press ahead with record production weighed against prospects of a U.S. stockpile drop in the oil markets Tuesday. U.S. benchmark crude gained 20 cents to settle at $41.85 a barrel on the Nymex, while in London, Brent lost 17 cents to $44.44, Reuters reports.
A day after Kinder Morgan moved to take half ownership of debt-ridden Natural Gas Pipeline Company of America, its credit outlook was shifted to negative by Moody’s, signaling a possible future downgrade, FuelFix reports.
America’s Renewable Future has started running ads charging that Republican presidential candidate and blending mandate opponent Sen. Ted Cruz “backs policies that threaten rural Iowa and thousands of jobs,” The Hill reports.
Major oil companies like Royal Dutch Shell and BP have joined environmental groups in backing carbon tax proposals, but their motivation lies in the boost such plans would give to their natural gas business, The Wall Street Journal reports.