From Forbes Magazine:
Exxon Prepares To Sue California Cities, Says They Contradict Themselves On Climate Change
Some government officials in California are hypocrites pushing a political agenda that involves using private lawyers to sue and demonize ExxonMobil, the company is now arguing in a Texas state court.
On Jan. 8, Exxon took the first step towards suing those who orchestrated climate change lawsuits in California by asking the Tarrant County District Court to allow it to question an assortment of government officials and a Hagens Berman lawyer. The company says those local officials are talking out of both sides of their mouths - blaming Exxon for an impending flooding disaster while not disclosing that alleged threat to possible investors in their bond offerings.
In 2017, the counties of Marin, Santa Cruz and San Mateo and the cities of San Francisco, Oakland, Santa Cruz and Imperial Beach filed suit against dozens of energy companies, including Exxon and 17 other Texas-based businesses, over climate change. The company has previously been targeted by the attorneys general of Massachusetts and New York.
“It is reasonable to infer that the municipalities brought these lawsuits not because of a bona fide belief in any tortious conduct by the defendants or actual damage to their jurisdictions, but instead to coerce ExxonMobil and others operating in the Texas energy sector to adopt policies aligned with those favored by local politicians in California,” attorneys for the company wrote.
In doing so, they must have lied to potential investors in their respective bond offerings, the company claims.
One example:
San Mateo County’s complaint says it is “particularly vulnerable to sea level rise” and that there is a 93% chance the county experiences a “devastating” flood before 2050. However, bond offerings in 2014 and 2016 noted that the county “is unable to predict whether sea-level rise or other impacts of climate change or flooding from a major storm will occur"
A long and fun read. Discovery will be interesting to say the least...
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