Did Exxon Mobil Lie To Shareholders About Global Warming?

Exxon Mobil Corporation XOM has once again come under fire for allegations that it mislead shareholders and the SEC about the business’ impact on climate change. Following the publication of reports based on internal Exxon Mobil documents, California Atty. Gen. Kamala Harris is reportedly looking into exactly what the company knew about climate change in the 1980s and 1990s and exactly what it told shareholders at the time.

In October of 2015, the Los Angeles Times reported on a study done by Columbia University Energy and Environmental Reporting Fellowship that claimed that internal documents prove that Exxon had been using climate change research as part of its internal planning and business operations for decades while simultaneously arguing publicly that the research was unclear.

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Although the California investigation has not been confirmed, New York Atty. Gen. Eric Schneiderman also recently launched an investigation looking into whether or not Exxon covered up what it knew about climate change.

“We unequivocally reject allegations that Exxon Mobil suppressed climate change research contained in media reports,” Exxon spokesperson Richard Keil said in a statement.

Disclosure: the author holds no position in the stocks mentioned.