Energy Sector Continues to be Roiled by Coronavirus and Price War

Energy Sector Continues to be Roiled by Coronavirus and Price War

The news about the energy sector is mixed.   The good news is that Exxon is slashing spending by 30% ($10 b) as the President waffles on tariffs on foreign imports, while The New York Times reports solar and wind projects in operation are increasing sales as a result of utilities cutting costs because renewables are cheaper than coal.

Why This Matters:  This is the moment to pivot to clean energy.

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Supreme Court allows MA investigation of Exxon Mobile to go forward

Supreme Court allows MA investigation of Exxon Mobile to go forward

The Supreme Court on Monday rejected (with no written explanation) an effort by oil giant Exxon Mobile to block an investigation by the State of Massachusetts’ Attorney General, Maura Healey, into whether the company misled the public and investors about how much it knew regarding whether its products increased the threat of climate change.  As a result,  Attorney General Healey can force the company to provide her decades of records about how it has dealt with the threat of climate change to the world and to its businesses.

Why This Matters:  The Supreme Court has twice refused to step in and cut off novel climate change lawsuits in recent months. That they passed up the chance to stop these untested cases is telling.  Even if the cases are ultimately unsuccessful, the public will learn a great deal about the complicity of oil companies in our current climate predicament, which could hasten their desire to shift away from fossil fuels.  Moreover, the negative publicity these cases generate is bad for the oil companies, and for Congress and the Executive Branch as well, which are look anemic in the face of the growing challenges climate change presents the country.  

To Go Deeper:  Inside Climate News has a great summary of the many court challenges challenging the fossil fuel industry right now, both in the U.S. and abroad.  

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