Global Energy Advisory, January 12th, 2018

New York City is suing the world’s five biggest oil companies on allegations they knew about the impact the industry was having on the environment but concealed this knowledge from the public for decades. The city’s authorities didn’t stop there, either. Mayor Bill de Blasio said New York’s five pension funds would divest their holdings in fossil fuels, which are around $5 billion. The city will also be seeking billions from the Big Oil group, which includes Exxon, BP, Chevron, Shell, and ConocoPhillips. While not all companies…

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