California Sues Exxon, Shell And BP Over 'Shameful' Deception: 'Sickens You To Your Core'
Portfolio Pulse from Nabaparna Bhattacharya
California has initiated legal action against several major oil companies, including Exxon Mobil Corporation, Shell PLC, BP P.L.C., ConocoPhillips, Chevron Corporation, and the American Petroleum Institute. The state alleges that these companies concealed the dangers of fossil fuels for decades, resulting in immense climate change-related damages. The lawsuit seeks the creation of a special fund to pay for recovery from the escalating harm caused by climate change.
September 16, 2023 | 4:35 pm
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BP P.L.C. is facing a lawsuit from California over alleged deception about the dangers of fossil fuels.
The lawsuit could potentially result in significant financial liabilities for BP, which could negatively impact its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
ConocoPhillips is facing a lawsuit from California over alleged deception about the dangers of fossil fuels.
The lawsuit could potentially result in significant financial liabilities for ConocoPhillips, which could negatively impact its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Chevron Corporation is facing a lawsuit from California over alleged deception about the dangers of fossil fuels.
The lawsuit could potentially result in significant financial liabilities for Chevron, which could negatively impact its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Shell PLC is facing a lawsuit from California over alleged deception about the dangers of fossil fuels.
The lawsuit could potentially result in significant financial liabilities for Shell, which could negatively impact its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Exxon Mobil Corporation is facing a lawsuit from California over alleged deception about the dangers of fossil fuels.
The lawsuit could potentially result in significant financial liabilities for Exxon Mobil, which could negatively impact its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100