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Consumers must be prepared to endure up to five years of turbulent oil markets, the head of ExxonMobil said Tuesday, citing under-investment and the coronavirus pandemic.

Energy markets have been roiled by the Ukraine war as Russia has reduced some exports and faced sanctions while Europe has announced plans to wean itself off dependency on Russian fossil fuels in coming years.

Speaking ahead of ExxonMobil’s unveiling as the fourth international partner for Qatar’s natural gas expansion, chairman and chief executive Darren Woods said major uncertainty lies ahead.

“You are probably looking at three to five years of continued fairly tight markets,” Woods told the Qatar Economic Forum. “How that manifests itself in price will obviously be a big function of demand, which is difficult to predict.”

On top of under-investment in finding new oil sources in 2014-2015, Woods said the pandemic “really sucked a lot of revenues out of the industry”.

Woods said companies and governments needed to think long-term. “We are going to see a lot of volatility and discontinuity in the market place if we don’t get to more thoughtful policies,” he predicted.

Representatives from the Middle East energy industry also renewed calls for better planning in consumer countries.

Sheikh Nawaf Saud al-Sabah, chief executive of Kuwait Petroleum Corporation, said the company was supplying all customers, but that multinational oil firms were not matching the investment of national oil enterprises.

– ‘Tremendous disruption’ –

As part of the Gulf state’s response, Kuwait was starting its first offshore oil exploration and building the world’s biggest oil refinery.

“We have never touched the offshore in Kuwait. The first offshore drill rig arrived in Kuwait a week ago and will start soon,” he said.

The new refinery would come online by the end of 2022, Sabah added.

…click on the above link to read the rest of the article…

Exxon Mounts Feeble Walkback After Lobbyist Caught on Camera Telling Truth About Anti-Climate Agenda

July 3, 2021

Exxon Mounts Feeble Walkback After Lobbyist Caught on Camera Telling Truth About Anti-Climate Agenda

The oil giant would like you to know that statements from its “Senior Director for Federal Relations” in no way represent its position on federal climate policy

One of ExxonMobil’s top lobbyists has been caught on camera revealing what many critics and environmentalists have claimed all along: That the oil giant continues to fight for its profits over the health of the planet, despite public relations campaigns claiming to back measures like a carbon tax to address climate change.

ExxonMobil is one of the planet’s top producers of oil, natural gas, and plastic, one of the corporations most responsible for our planet’s runaway carbon emissions, and a political heavyweight with a dark history of funding climate-denial front groups that for years have coordinated a campaign in Washington D.C. to stymie political action against global warming.

In recent years, the company has changed its public relations tune, running TV commercials that highlight its supposed commitments to developing fossil-fuel alternatives, while telling shareholders it is “committed to supporting efforts to mitigate the risk of climate change.”

But behind the scenes, it appears not much has changed. Keith McCoy is the Senior Director for Federal Relations at ExxonMobil. He was targeted by Greenpeace UK in an undercover video effort. A representative of the environmental group, masquerading as a corporate headhunter, set up a video interview with McCoy in May, in which the lobbyist touted the company’s successes in working with “shadow groups” to undermine the scientific consensus around climate change. McCoy also bragged of Exxon’s power on the hill and its ongoing influence with a “crucial,” bipartisan group of Senators, chief among them Democrat Joe Manchin of West Virginia…

…click on the above link to read the rest of the article…

ExxonMobil wants you to feel responsible for climate change so it doesn’t have to

May 15, 2021

ExxonMobil wants you to feel responsible for climate change so it doesn’t have to

A new study reveals how the oil company used “cutting-edge propaganda” to focus on fossil fuel consumption.

An illustration of oil pumps superimposed on a world map and covered with an arrow representing profits pointing up and to the right.

To understand why ExxonMobil has been so effective at shaping the US narrative about climate change in the US for some 40 years, look no further than the words of one of the company’s communications strategists, Mobil Vice President of Public Affairs Herbert Schmertz: ”Your objective is to wrap yourself in the good phrases while sticking your opponents with the bad ones,” he wrote in 1986.

From the 1970s through the 1990s, most of the company’s PR efforts focused on casting doubt on the scientific consensus that burning fossil fuels was warming the planet. But by the mid-2000s, it was taking a more sophisticated, nuanced approach.

“Energy-saving consumers can make a real difference,” it said in 2007, listing ways consumers can “Be smart about electricity use,” “Heat and cool your home efficiently,” and “Improve your gas mileage” to address climate change. Another ad in 2008 looks to the auto industry: “It is important we reduce greenhouse gas emissions, too. Improving the efficiency of the vehicles people drive is one way to do so.”

There are many examples in ExxonMobil’s advertising materials and other documents right up to 2019, all doing the same thing: Deflecting attention away from the oil company’s role in fueling climate change by supplying fossil fuels and turning attention toward consumer demand for, and dependency on, its products.

We now have a comprehensive view of this strategy, thanks to a new peer-reviewed study by Harvard research associate Geoffrey Supran and Harvard science historian Naomi Oreskes in the journal One Earth. In a painstaking analysis, they show how hard the oil giant has worked to keep the conversation about climate solutions focused on the consumer, effectively individualizing responsibility for the problem.

…click on the above link to read the rest of the article…

Exxon Dumps Tar Sands/Oil Sands Holdings, Slashes Estimate of Recoverable Reserve

March 3, 2021

EXXON DUMPS TAR SANDS/OIL SANDS HOLDINGS, SLASHES ESTIMATE OF RECOVERABLE RESERVES

Greenpeace / Jiri Rezac

Colossal fossil ExxonMobil has dropped virtually all its tar sands/oil sands holdings from its list of recoverable assets, and its Canadian subsidiary Imperial Oil followed suit by cutting a billion barrels of bitumen from its inventory, in what Bloomberg News calls a “sweeping revision of worldwide reserves to depths never before seen in the company’s modern history”.

Exxon reduced its estimate of recoverable reserves to 15.2 billion barrels world-wide as of December 31, Bloomberg reports—still a massive quantity, but far last than the 22.44 billion barrels it reported just a year ago. In the tar sands/oil sands, “the company’s reserves of the dense, heavy crude extracted from Western Canada’s sandy bogs dropped by 98%,” the news agency adds.

On the same day, The Canadian Press writes, Imperial cut its estimate of its “proved plus probable bitumen reserves” to 4.46 billion barrels, down from 5.45 billion a year earlier.

The two companies previously announced write-offs of up to US$20 billion for Exxon and C$1.2 billion for Imperial.

“Proved” or “proven” reserves have a specific meaning in fossil industry financing—in contrast to the total resource a company has discovered, proven reserves “refer to the quantity of natural resources a company reasonably expects to extract from a given formation,” Investopedia explains. To fit the definition, the resource must have “a 90% or greater likelihood of being present and economically viable for extraction in current conditions.”

It’s largely the deteriorating economic conditions the industry faces that led to Exxon’s and Imperial’s epic write-down this week.

“The pandemic-driven price crash that rocked global energy markets was the main driver of Exxon’s reserve downgrade, along with internal budget cuts that took out a significant portion of its U.S. shale assets,” Bloomberg says. “The oilsands have historically been among the company’s higher-cost operations, making them more vulnerable to removal when oil prices foundered.”

…click on the above link to read the rest of the article…

THE END OF A U.S. OIL GIANT: ExxonMobil’s Days Are Numbered

May 8, 2020

THE END OF A U.S. OIL GIANT: ExxonMobil’s Days Are Numbered

ExxonMobil, the largest oil company in the U.S. and a direct descendant of John D. Rockefeller’s Standard Oil, days are numbered. The once-great profitable oil giant is now borrowing money just to pay dividends. How long can this charade go on?

Good question. Now, some may believe that ExxonMobil was forced to borrow money to pay dividends due to the collapse in oil prices as a result of the global contagion. However, the company hasn’t been able to pay shareholder dividends from its cash from operations over the past four quarters, even with much higher oil prices.

The leading culprit as to why ExxonMobil lacks the available cash to pay dividends stems from the lousy economics of its U.S. oil and gas wells, especially the company’s shale oil portfolio. Ever since ExxonMobil ramped up its domestic shale oil production, that’s when the financial troubles at the company began to intensify.

The best way to compare ExxonMobil’s U.S. Upstream (oil and gas wells) performance, BEFORE and AFTER SHALE, is to go back to 2004. Even though the oil price fell considerably in Q1 2020, it was higher than the oil price in 2004. For example, ExxonMobil’s U.S. Upstream Sector earned $4.9 billion in 2004 with an average oil price of $41.51 compared to a $704 million loss on a $42.82 oil price:

Furthermore, look at the U.S. oil production differences between 2004 and Q1 2020. According to ExxonMobil’s 2006 Annual Report, the company’s average U.S. oil production in 2004 was 414,000 barrels per day (bd) versus 699,000 bd in Q1 2020. Even with higher oil production and similar oil price, ExxonMobil’s U.S. Upstream Earnings in Q1 2020 were dismal in comparison. Moreover, the company invested $1.9 billion in CAPEX for all of 2004 on its U.S. oil and gas wells compared to the $2.8 billion just for Q1 2020.

…click on the above link to read the rest of the article…

Big Oil Needs to Pay for the Damage It Caused

December 9, 2019

Big Oil Needs to Pay for the Damage It Caused

protestors hold up a sign that says exxon knew

Environmental activists rally for accountability for fossil fuel companies outside of New York Supreme Court on October 22, 2019, in New York City. New York’s attorney general, Letitia James, is taking on ExxonMobil in a landmark case that accuses the oil corporation of misleading investors about the company’s financial risks from climate change.DREW ANGERER/GETTY IMAGES

This month in a Manhattan courthouse, New York State’s attorney general Letitia James argued that ExxonMobil should be held accountable for layers of lies about climate change. It’s a landmark moment—one of the first times that Big Oil is having to answer for its actions—and James deserves great credit for bringing it to trial. But it comes with a deep irony: Under the relevant New York statutes, the only people that New York can legally identify as victims are investors in the company’s stock.

It is true that Exxon should not have misled its investors—lying is wrong, and that former CEO Rex Tillerson had to invent a fake email persona as part of the scheme (we see you, “Wayne Tracker”) helps drive home the messiness. But let’s be clear: On the spectrum of human beings who are and will be hit by the climate crisis, Exxon investors are not near the top of the list.

In fact, if the “justice system” delivered justice, the payouts for Exxon’s perfidy would go to entirely different people, because the iron law of climate is, the less you did to cause it, the more you’ll suffer.

The high-end estimate for economic damage from the global warming we’re on track to cause is $551 trillion, which is more money than exists on planet Earth.

…click on the above link to read the rest of the article…

TROUBLE AT MIGHTY EXXONMOBIL: Record Number Of Shale Wells While Permian Oil Production Remains Flat

November 6, 2019

TROUBLE AT MIGHTY EXXONMOBIL: Record Number Of Shale Wells While Permian Oil Production Remains Flat

There’s trouble brewing in the U.S. largest oil company while most investors remain in the dark. ExxonMobil added a record number of wells in the Permian during the first three quarters of 2019, only to see the company’s oil production plateau. What a difference in a year when Exxon bragged that its Q4 2018 Permian oil production had surged 93% from the same period in 2017.

However, an investor reading ExxonMobil’s latest presentation would believe the company’s Permian oil production continues to increase significantly by the announcement that output is up 72% since Q3 2018.

Let me explain how these oil companies “BUFFALO” investors with the numbers.

First, the nice chart above is stated in Koebd, or 1,000 barrels of oil equivalent per day. Exxon’s Permian production shown in that chart includes natural gas. So, unless you do a bit of digging and research, the typical investor will believe that Exxon’s Permian oil output continues to surge higher in 2019.

Second, while Exxon’s Permian production continues to increase in 2019, the majority of the gain is from natural gas. According to Shaleprofile.com, Exxon’s Permian oil production rose slightly since January, but natural gas was the clear winner.

(charts from Shaleprofile.com)

Third, ExxonMobil added 133 wells from Jan-Aug 2018 to increase overall Permian oil production by 84%. However, when ExxonMobil added 149 wells from Jan-Aug 2019, oil production only increased by a mere pittance of 3% during the same period. The reason for the plateauing of Exxon’s Permian shale oil production has to do with the massive decline rate taking place in its 2018 production.

We can see this occur in glorious 3D Technicolor in the chart below:

…click on the above link to read the rest of the article…

Massachusetts Sues ExxonMobil For Climate Disinformation, Greenwashing

October 29, 2019

Massachusetts Sues ExxonMobil For Climate Disinformation, Greenwashing

Massachusetts filed a lawsuit against ExxonMobil today over the company’s misinformation campaign to delay action to address climate change.

Attorney General Maura Healey told reporters in a press conference today that “Exxon has fought us every step of the way,” and was “completely uncooperative,” noting that the company failed to comply with requests for documents and depositions.

“Exxon has yet to produce to our office a single document. They have yet to provide to our office a single witness. So they have been completely uncooperative with our investigation,” Healey told reporters.

ExxonMobil misstated facts and failed to disclose important information to both consumers and investors, according to the complaint, filed today in Suffolk Superior Court by the attorney general’s office.

“Exxon has known for decades about the catastrophic climate impacts of burning fossil fuels—its chief product,” said AGHealey. “Yet, to this day, Exxon continues to deceive Massachusetts consumers and investors about the dangerous climate harms caused by its oil and gasoline products and the significant risks of climate change—and efforts to address it—to Exxon’s business.”

“Contrary to its shareholder representations and deceptive advertising and marketing, Exxon’s products are a leading cause of climate change, not a solution. That deception, we allege, violates Massachusetts law, and that’s why we are suing. Our goal here is simple – to stop Exxon from engaging in this deception and penalize the company for this misconduct,” Healey said.

“In order to increase its short-term profits, stock price, and access to capital, ExxonMobil has been dishonest with investors about the material climate-driven risks to its business and with consumers about how its fossil fuel products cause climate change―all in violation of Massachusetts law,” the complaint asserts.

…click on the above link to read the rest of the article…

ExxonMobil Looks To Exit UK North Sea Oil & Gas

August 15, 2019

ExxonMobil Looks To Exit UK North Sea Oil & Gas

ExxonMobil has recently discussed with operators selling part or all of its assets in the UK North Sea in a move that could raise up to US$2 billion for Exxon and mark another major U.S. exit from the area, Reuters reported on Tuesday, quoting three industry sources familiar with the matter.

Exxon has been a major investor in the UK North Sea since 1964, when the first exploration drilling in the area began. The U.S. major holds interests in 40 producing oil and gas fields and produces around five percent of UK oil and gas production, with an average 80,000 barrels of oil and 441 million cubic feet of gas a day. Exxon’s investment in the North Sea is managed through a 50/50 joint operation with Shell.

If Exxon sells some or part of its assets in the UK North Sea, it will be yet another major U.S. oil and gas firm to divest interests in this mature area to focus on their current key growth areas, which for Exxon right now are the Permian in Texas and conventional oil production offshore Guyana.

While European supermajors Shell, BP, and Total continue to view the North Sea as one of their core assets, U.S. majors have been selling North Sea stakes as many of them are now focused on U.S. shale.

Marathon Oil said in February that it would be exiting the UK North Sea as it continues to focus on high-return U.S. shale oil operations.

In April, ConocoPhillips sold its UK oil and gas business to Chrysaor Holdings for US$2.675 billion in a deal which Wood Mackenzie described as “another story of the changing corporate landscape in the North Sea – for the first time, a non major is the number one producer in the UK.”

…click on the above link to read the rest of the article…

Climate Change was No Accident

May 17, 2019

Climate Change was No Accident

Years ago, tobacco companies discovered the link between their products and lung cancer. Did they warn their customers? No — they denied the link entirely, misleading the public for decades while killing their customers.

Similarly, ExxonMobil scientists made startlingly accurate predictionsabout climate change as early as 1982 — and then spent millions of dollars on a misinformation campaign to sow public doubt about climate change.

They didn’t need to convince the public that the climate crisis wasn’t happening. They just had to muddy the waters enough to prevent us from doing anything.

They provoked uncertainty: Maybe the climate crisis isn’t happening. And even if it is, maybe it’s not caused by humans burning fossil fuels. (Of course, it is happening and it is caused by humans.)

The result was inaction.

If we aren’t even sure that a human-caused climate crisis is afoot, why should we wean ourselves off of fossil fuels? It would be highly inconvenient and very expensive to go to all of that trouble unless we’re absolutely certain that we need to.

After all, the argument went, “only” 97 percent of scientists believe that human are causing a climate crisis.

I’m a scientist. Let me tell you, when 97 percent of scientists agree on anything, the evidence must be overwhelming.

Scientists are trained to critique and argue with one another. We make our careers by pulling apart other scientists’ theories and exposing the flaws in them and then supplanting them with better theories of our own.

You couldn’t get 97 percent of scientists to agree that puppies are cute or chocolate is delicious.

What about other 3 percent? You can always find one or two nutty so-called scientists with inaccurate, fringy theories out there. There’s probably a scientist somewhere attempting to publish a study asserting that Bigfoot exists — or that climate change isn’t happening.

…click on the above link to read the rest of the article…

LOUSY SHALE ECONOMICS: Financial Troubles Continue At ExxonMobil

April 29, 2019

LOUSY SHALE ECONOMICS: Financial Troubles Continue At ExxonMobil

After reporting lower than expected earnings, ExxonMobil’s stock price sold off on Friday. The company blamed poor performance on reduced production volumes and a weaker oil price. However, the real culprit will turn out to be Exxon’s big move into the Great U.S. Shale Oil Ponzi Scheme.

As I mentioned in my recent article, EXXONMOBIL U.S. OIL & GAS FINANCIAL TRAIN-WRECK: Producing Shale Is Destroying Its Bottom Line, the company will continue to spend a great deal of capital with little financial reward. So, it wasn’t a surprise to see Exxon’s Q1 2019 earnings decline by $3.6 billion compared to the previous quarter… even though U.S. oil production had increased.

While weaker earnings were experienced across all of the company’s sectors, upstream (oil & gas wells), downstream (refining and marketing products) and chemical, the big RED FLAG was in the U.S. oil and gas sector. According to Exxon’s Q1 2019 Earnings Release, the company invested $2.5 billion in CAPEX (capital expenditures) on its U.S. oil and gas wells, to earn a paltry $96 million in earnings:

Now, compare the miserable U.S. upstream earnings to Exxon’s International upstream earnings of $2.78 billion on $2.8 billion of capital expenditures. ExxonMobil will likely invest close to $10 billion in CAPEX on just its U.S. upstream sector (spent over $5 billion of CAPEX past two quarters) this year, and if oil prices fall, it will impact their earnings quite negatively.

This next chart shows how much money Exxon is investing in its U.S. oil and gas sector each quarter:

We can see that Exxon ramped up capital expenditures in its U.S. oil and gas properties (mostly shale) significantly since the beginning of 2018. Over the past year, the company has spent $8.8 billion to increase production by 77,000 barrels per day.

…click on the above link to read the rest of the article…

‘They Have Lied for Decades’: European Parliament To Scrutinise Exxon’s Climate Science Denial

March 21, 2019

‘They Have Lied for Decades’: European Parliament To Scrutinise Exxon’s Climate Science Denial

With millions of students taking to the streets and oil majors increasingly facing litigation, the fossil fuel industry is finally being held to account for its contribution to the climate crisis.

This week, the EU is taking this accountability up a notch, with ExxonMobil’s decades-long denial of climate science facing the scrutiny of MEPs and the public at a hearing at the European Parliament in Brussels on Thursday.

During the two-hour session, scientists, campaigners and a historian will examine the history of climate denial and in particular the misinformation spread by Exxon, with MEPs able to ask questions about the role and behaviour of the oil major.

The hearing is being held jointly by the petitions committee and the environment, public health and food safety committee. It was arranged following a petition by Food & Water Europe, a Brussels-based non-governmental organisation, which gained 732 signatures.

“To my knowledge, this is the first major body of lawmakers, certainly at the national or international level, to hear on record expert testimony about the history of climate denial today,” says Geoffrey Supran, a postdoctoral fellow at Harvard who has examined Exxon’s history of obfuscation on climate change, and who will testify at Thursday’s hearing. “There’s a general momentum here, that investigative bodies are starting to formalise this enquiry.”

Representatives from the oil company itself won’t attend the hearing, due to “ongoing climate change related litigation in the US”, according to leaked notes from the coordinators of the hearing. Exxon did not respond to requests for comment at the time of publication.

…click on the above link to read the rest of the article…

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

March 13, 2019

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

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.

As ExxonMobil embarks on an ambitious move into fracking in the Permian oil fields of West Texas, it has announced a partnership with Microsoft to use cloud technology to analyze oil field data and optimize operations. Exxon claims the move could generate “billions in net cash flow.”

Time will tell if the Microsoft cloud will make Exxon rain profits in the Permian.

Fracking 2.0

In March 2017, the Wall Street Journal ran an article with the headline, “Fracking 2.0: Shale Drillers Pioneer New Ways to Profit in Era of Cheap Oil,” which detailed the ways the shale industry expected technology could help it finally deliver profits. The article mentioned “longer, supersize wells” and said, “The promise of this new phase is potentially as significant as the original revolution.”

The article highlighted EOG Resources (as in, Enron Oil and Gas), a company often touted as the “Apple of oil,” and quoted the company’s chief information officer saying that technology advances allowed its employees to work at the “speed of thought.”

It also reported that Chesapeake Energy was betting on these new supersize wells as part of its “turnaround strategy.” Chesapeake needed to “turnaround” from losing money and move in the direction of profits.

…click on the above link to read the rest of the article…

EXXONMOBIL U.S. OIL & GAS FINANCIAL TRAIN-WRECK: Producing Shale Is Destroying Its Bottom Line

February 21, 2019

EXXONMOBIL U.S. OIL & GAS FINANCIAL TRAIN-WRECK: Producing Shale Is Destroying Its Bottom Line

The United States largest oil company, ExxonMobil, is facing a financial train-wreck in its domestic oil and gas sector. And, the majority of the blame can be attributed to Exxon’s move into shale. After Exxon acquired XTO Energy in 2009, a U.S. shale oil and gas producer, it has seriously begun to ramp up shale oil production in the Permian.

ExxonMobil plans on expanding Permian shale oil production to 600,000 barrels a day (bd) by 2025, up from the 115,000 bd as of October (thanks to the data from Shaleprofile.com). If you look at the chart below, Exxon’s Permian shale oil production shot up from less than 50,000 bd at the beginning of 2018, to over 115,000 bd in October:

Exxon is now the largest player in the Permian, according to the article, Exxon Becomes Top Permian Driller to Combat Falling Oil Output:

Exxon Mobil Corp. has overtaken rivals to become the most active driller in the Permian Basin, showing the urgency with which the world’s biggest oil company by market value is pursuing U.S. shale.
Exxon’s escalation in the Permian is essentially a bet that it can drill wells so cheaply that they’ll be profitable despite crude’s tumble since early October. The company says its shale wells can make double-digit returns with oil at just $35 a barrel.

Exxon moved into the Permian to stem a decade of falling domestic U.S. oil production. However, its statement that it will enjoy double-digit gains at a $35 oil price in the Permian may be more “delusional thinking” rather than company pragmatic optimism. I spent some time looking over Exxon’s financial statements, and I have to say I was quite shocked by their utterly dismal 2018 U.S. oil and gas financials.

…click on the above link to read the rest of the article…

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

January 8, 2019

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

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.

“The public deserves answers from this company about what it knew about the impacts of burning fossil fuels, and when,” Healey said, responding on Twitter to the ruling. This victory, she added, “clears the way for our office to investigate Exxon’s conduct toward consumers and investors.”

The news, which followed a Massachusetts Supreme Court ruling against the company in April, was also welcomed by climate activists — including 350.org U.S. communications manager Thanu Yakupitiyage, who thanked Healey “for her vigilant leadership in standing up for people over polluters.”

“Executives at Exxon knew about climate change decades ago, but they chose to lie to the rest of us to line their oily pockets,” Yakupitiyage declared. “Now, it’s those who have done the least to cause the problem who are paying the cost of this deception through our lives and livelihoods. In 2019, we’ll use all our power to make sure Big Oil pays its fair share for climate destruction.”

…click on the above link to read the rest of the article…

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