Trial in the New York AG's fraud case accusing Exxon of misleading investors about risks due to the climate crisis is about to kick off in state court in Manhattan, which I will cover live for @CourthouseNews.
Slide up now:
Alberta 2015: "alternate methodology" to avoid "massive GHG costs."
This refers to the Tar Sands project.
"Perhaps most importantly, we require that all our business segments include, where appropriate, GHG costs in their economics when seeking funding for capital investments."
"The costs of that failure are staggering. Investors are entitled to the truth."
Recess before Exxon's up. (Corrected tweet)
In 2006, Rex Tillerson became the CEO of Exxon and he recognized that climate change regulations were increasing, the attorney says.
"Exxon's fraud was sanctioned at the highest levels of the company."
He claims that NYAG did not ask to interview Rex Tillerson for years, until recently.
He quotes Tillerson:
"I had taken the view and we had taken the view as a corporation that the risk of climate change and that… appropriate action was going to be needed."
"I want to use my last two minutes by talking about the elephant in the room," which delves into allegations that former NYAG Eric Schneiderman brought the case for political reasons.
Schneiderman announced probe with Al Gore, Well notes.
"Why would the AG do something like this?" Wells asks, saying that AG's office wouldn't "stay in their lane."