Supreme Court hears Exxon and Suncor challenge to climate liability lawsuits

โดย Seeking Alpha·US·Read original
Summary · why it matters

The U.S. Supreme Court opened its new term Monday with arguments in a case that could determine whether ExxonMobil and Suncor Energy can be held liable under state law for costs attributed to climate change. The dispute stems from a lawsuit filed by the city and county of Boulder, Colorado, accusing the oil producers of contributing to climate change and misleading the public about the risks of fossil fuels, and seeking compensation for infrastructure repairs, emergency management, environmental damage and public health effects. Exxon and Suncor appealed after the Colorado Supreme Court allowed the case to proceed, arguing that federal law including the Clean Air Act bars state and local governments from pursuing claims that effectively regulate greenhouse-gas emissions, a position backed by the Trump administration. The stakes extend well beyond Colorado, as nearly 60 state and local governments have filed similar lawsuits seeking billions of dollars from fossil-fuel producers, and a broad ruling for the companies could provide grounds for dismissing many of those cases. The court has a 6-3 conservative majority, though Justice Samuel Alito has recused himself, and a decision is expected by the end of June.

Impact on assets 2

Energy▲ · 1 stocks
Suncor Energy Inc
SU
▲ PositiveRegulationrelevance

Suncor is a named defendant appealing to the Supreme Court to block state-law climate liability claims, and a broad ruling for the companies could dismiss many similar suits.

Energy Transition & Power Demand▲ · 1 stocks
Exxon Mobil Corp
XOM
▲ PositiveRegulationrelevance

Exxon is a named defendant arguing federal law bars state climate-liability claims, with a favorable ruling potentially dismissing dozens of similar lawsuits.

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