The climate litigation of California councils appears to be caught in a hypocritical death spiral

The climate litigation of California councils appears to be caught in a hypocritical death spiral

http://joannenova.com.au/2018/02/the-climate-litigation-of-california-councils-appears-to-be-caught-in-a-hypocritical-death-spiral/

California councils sue Exxon but Exxon fights back: Will that be Fake Fear or Fake Bonds? ‘Cross Examination Is Going To Be Brutal’: NYU Law Prof Says Climate Change Litigation Is A Loser Some Californian councils launched climate litigation against Exxon because they will be wiped out by floods. But at the same time the same councils issued bonds and forgot to mention that the local area was going to be washed away. Since 1990 or so, the bonds are worth in the order of $8 billion according to a petition from Exxon. The Competitive Enterprize Institute is calling on the SEC to investigate regarding potential fraud. The councils have painted themselves in to a terminally awkward corner: Are they money grubbers using false propheses to scare up some money, or are they deceptive bond dealers? For example, San Mateo County claimed in its complaint to be “particularly vulnerable to sea level rise” with a 93 percent the county will experience a “devastating” flood before 2050. “If sea levels were to raise that high, it most certainly would be catastrophic,” Epstein said. However, bond offerings in the last few years by those counties and […]Rating: 10.0/10 (2 votes cast)

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