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California cities seek billions from big oil firms over climate change

Published 09/20/2017, 05:57 PM
Updated 09/20/2017, 05:57 PM
© Reuters.  California cities seek billions from big oil firms over climate change
  • San Francisco and Oakland filed separate lawsuits against five oil companies today seeking billions of dollars to protect against rising sea levels the cities blame on climate change.
  • The lawsuits, which San Francisco says mirror 1980s lawsuits against tobacco companies, allege Chevron (NYSE:CVX), ConocoPhillips (NYSE:COP), Exxon Mobil (NYSE:XOM), BP and Royal Dutch Shell (LON:RDSa) (RDS.A, RDS.B) “knowingly and recklessly created an ongoing public nuisance that is causing harm now and in the future risks catastrophic harm to human life and property."
  • CVX, the only company to comment on the lawsuits so far, says it "welcomes serious attempts to address the issue of climate change, but these suits do not do that."
  • Now read: ConocoPhillips Vs. EOG Resources (NYSE:EOG) - Even Family Members Differ By 50%


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