U.S. court dismisses climate change lawsuits against top oil companies
Reuters
Published Jun 26, 2018 12:40PM ET
U.S. court dismisses climate change lawsuits against top oil companies
(Reuters) - A California federal court dismissed climate change lawsuits against five oil companies by the cities of San Francisco and Oakland, saying the complaints required foreign and domestic policy decisions that were outside the purview of courts, Chevron Corp (NYSE:CVX) said on Monday.
The cities of San Francisco and Oakland, California sued Chevron, Exxon Mobil Corp (NYSE:XOM), ConocoPhillips (NYSE:COP), Royal Dutch Shell (LON:RDSa) Plc, and BP (LON:BP) Plc last year, seeking an abatement fund to help the cities address flooding they say is a result of climate change.
The dangers raised by the complainants are real and worldwide, and that both parties accepted the science behind global warming, Judge William Alsup of the U.S. District Court for the Northern District of California said in the ruling.
"(However), the problem deserves a solution on a more vast scale than can be supplied by a District Judge or jury in a public nuisance case," Judge Alsup said.
A Shell spokeswoman said the company regards climate change to be a complex problem, which is not an issue for the courts but requires sound government policy.
BP did not have an immediate comment, while ConocoPhillips and Exxon Mobil were not available for comment outside regular business hours.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.