The world’s biggest oil company is on trial for defrauding investors out of $1.6 billion. Exxon admits it used two sets of books to evaluate assets, including Canadian tar sands. The suit claims that in one set of books, Exxon planned its operations taking into account climate change. But the other set of books, shown to investors, painted a far rosier and misleading future for the fossil fuel giant. Rex Tillerson is on the witness list. He was the CEO of Exxon before President Trump named him Secretary of State. If Exxon loses, others suits may follow, and the company could potentially owe millions of dollars in damages to its investors.
Exxon Mobil goes to court
Protestors standing against Exxon Mobil. Photo credit and courtesy of E&E News.
Credits
Guest:
- Jennifer Hijazi - Covers climate change and the law for E&E News. - @JenHijazi