For years, energy companies have couched the possible effects of climate change-related regulations in public reports to investors as “uncertain,” “difficult,” or “not possible” to reasonably predict. Now a probe by New York Attorney General Eric Schneiderman is raising questions as to whether the companies knew more than they were letting on.
Exxon Mobil received a subpoena last week by the state official seeking documents from as far back as the 1970s in a probe that aims to determine whether oil giant lied to investors and consumers, or withheld information about the effects of climate change. On Sunday, meanwhile, Schneiderman reached a settlement with the largest U.S. coal miner, Peabody Energy, in which the company agreed to include more detailed disclosures in reports to investors about the potential costs of climate-related regulations.
Exxon has denied implications that it lied to investors or the public. Peabody neither admitted nor denied the official’s findings.
Brazil Energy Insight 
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