ExxonMobil (NYSE: XOM)

Chevron and Exxon Say They Can Turn Around the Failed Finances of Fracking Industry

Read time: 9 mins
Gas station sign reading 'Exxon' and 'On the Run'

After a decade of the American fracking industry burning through hundreds of billions of dollars more than it earned, this industry previously dominated by shale drilling specialists is entering a new phase. The oil majors — a group of multinational companies that typically have divisions throughout the oil supply chain — now are investing heavily in fracked oil and gas operations.

ExxonMobil Could Be Banned From EU Parliament After Failing to Show at Climate Hearing

Read time: 4 mins
ExxonMobil Torrance Refinery

By Olivia Rosane, EcoWatch. Reposted with permission from EcoWatch.

ExxonMobil could be the second company after Monsanto to lose lobbying access to members of European Parliament after it failed to turn up to a hearing Thursday into whether or not the oil giant knowingly spread false information about climate change.

The call to ban the company was submitted by Green Member of European Parliament (MEP) Molly Scott Cato and should be decided in a vote in late April, The Guardian reported.

‘All Rhetoric and No Action’: Oil Giants Spent $1 Billion on Climate Lobbying and Ads Since Paris Pact, Says Report

Read time: 7 mins
climate policy grades for five major oil companies

A new report by a British think tank estimates that since the 2015 Paris Agreement, the world’s five largest listed oil and gas companies spent more than $1 billion lobbying to prevent climate change regulations while also running public relations campaigns aimed at maintaining public support for climate action.

Combined, the companies spend roughly $200 million a year pushing to delay or alter climate and energy rules, particularly in the U.S. — while spending $195 million a year “on branding campaigns that suggest they support an ambitious climate agenda,” according to InfluenceMap, a UK-based non-profit that researches how corporations influence climate policy.

Fracking 2.0 Was a Financial Disaster, Will Fracking 3.0 Be Different?

Read time: 8 mins
Clippy paperclip art on fracking drill well pad

Two years ago, the U.S. fracking industry was trying to recover from the crash in the price of oil. Shale companies were promoting the idea that fracking was viable even at low oil prices (despite losing money when oil prices were high). At the time, no one was making money fracking with the business-as-usual approach, but then the Wall Street Journal published a story claiming all of this was about to change because the industry had a trump card — and that was technology.

Today, frackers are again relying on technology as a financial savior, but this time, they are looking to Microsoft.

Competitive Enterprise Institute's Climate Denial Efforts Target Media, Cities Filing Liability Suits

Read time: 7 mins
ExxonKnew sign on a building

By Karen Savage, Climate Liability News. Crossposted from Climate Liability News.

The conservative think tank Competitive Enterprise Institute has been busily pressing forward with its mission to promote climate denial, using high-profile tactics like full-page ads in major newspapers. But it is also working behind the scenes, filing records requests to dig for information from cities filing climate liability suits and academics studying the topic. 

As the science has grown definitive in tying global warming to the burning of fossil fuels, even oil companies have been forced to acknowledge the overwhelming scientific consensus and back away publicly from climate denial efforts. But CEI continues to double down on their mission to claim the science is not settled.

CEI made a splash this week by purchasing full-page ads in the Washington Post and Wall Street Journal taking issue with Meet the Press host Chuck Todd and NBC for refusing to give airtime to denialists during his Dec. 30 show about climate change.  

Supreme Court Blocks ExxonMobil's Effort to Conceal Decades of Documents in Probe of Oil Giant's Climate Deception

Read time: 4 mins
ExxonKnew protesters in T-rex costumes

By Jessica Corbett, Common Dreams

The high court's ruling means the company must hand over records to the Massachusetts attorney general for her ongoing investigation

In a win for climate campaigners and Massachusetts' Democratic Attorney General Maura Healey on Monday, the U.S. Supreme Court rejected ExxonMobil's attempt to block Healey's demand for documents related to her state's ongoing investigation into allegations that one of the world's largest oil and gas corporations deceived the public and investors for decades about how fossil fuels drive global warming.

'Time is Running Out,' American Petroleum Institute Chief Said in 1965 Speech on Climate Change

Read time: 6 mins
Fire crew in California fire

The warning is clear and dire — and the source unexpected. “This report unquestionably will fan emotions, raise fears, and bring demand for action,” the president of the American Petroleum Institute (API) told an oil industry conference, as he described research into climate change caused by fossil fuels.

The substance of the report is that there is still time to save the world's peoples from the catastrophic consequence of pollution, but time is running out.”

The Big Apple Loses to Big Oil as Judge Dismisses Climate Liability Suit

Read time: 4 mins
Flooded MTA train in New York after Hurricane Sandy

By Olivia Rosane, EcoWatch. Reposted with permission from EcoWatch.

A federal judge ruled on Thursday in favor of a motion by five big oil companies to dismiss a lawsuit brought against them by New York City, which demanded they pay the costs of adapting the city's infrastructure to climate changeThe New York Times reported.

The ruling comes nearly a month after a federal judge in San Francisco dismissed a similar case brought by the cities of Oakland and San Francisco.

Yes, Exxon Is Accusing Local Governments of Misleading Investors on Climate Change

Read time: 6 mins
ExxonKnew projections on buildings in San Francisco

In January, ExxonMobil filed a legal petition seeking to depose more than a dozen city and county government officials in California, claiming that the municipal officials are defrauding investors by not fully disclosing the risks posed by climate change.

You read that right. Exxon is legally challenging cities and counties for not talking up the risks of climate change enough to the investors who purchase municipal bonds for those localities. Has Exxon had a change of heart and now become concerned about transparency and the impacts of climate change?

Let's take a closer look.

Exxon’s Fantastical Vision of the Future and Climate Change

Read time: 7 mins
ExxonMobil climate risks report cover

There really is little need to read past the cover of ExxonMobil’s 2018 Energy and Carbon Summary, a report purportedly meant to offer insights to shareholders on how the company manages climate-related risks. Apparently at Exxon, the plan is for humanity to frack its way out of the climate crisis by pouring more money into developing oil and gas.

The report you are reading looks into a lower-carbon future. It provides a perspective on what such a future might mean for our business,” Darren Woods, CEO of ExxonMobil, writes in the introduction.

But it doesn’t.

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