by Katy Grimes, E&E Legal Senior Media Fellow
As appearing in the Flash Report
Environmentalists claim global warming can be mitigated, but only if humans are forced to reduce greenhouse gas emissions. This pseudo-science is what California’s leftist politicians have adopted to control human activity, and the unelected bureaucrats at the California Air Resources Board based its cap-and-trade carbon auction program on.
Now, seven California municipalities – four cities and three counties – are suing Exxon Mobil Corp. and other major oil producers to force those companies to cover the costs and hold fossil-fuel companies responsible for climate-change costs of sea walls and other coastal infrastructure projects, the Wall Street Journal reported earlier this week in “California Municipalities’ Debt Disclosures Contrast With Climate Warnings.”
The good news is that Exxon Mobil is fighting back against this shakedown attempt. “Now Exxon, one of the defendants, is launching a new counterattack by highlighting past bond disclosures in which its government critics suggested they couldn’t predict whether and when sea levels would rise,” WSJ reported.
These greedy municipal cheaters are now caught between two significant, self-imposed frauds: Either their lawsuits are fraudulent, or their bond offerings are.