Trump Admin Drops Probe Into Whether Exxon Misled Public On Climate Change

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An investigation into Exxon Mobile's public disclosures regarding climate change has been terminated.

> The Trump administration has ended a two-year investigation begun under President Barack Obama into Exxon Mobiles method of calculating the value of its assets and its public disclosures about climate change, according to the company.

Frpm The South China Morning Post:

> The Securities and Exchange Commission informed the energy giant in a letter dated Thursday that it would not recommend an enforcement action against the company at this time.


> ExxonMobil cooperated with the inquiry, producing more than 4.2 million pages of documents, company spokesman Scott Silvestri said.


> After a thorough investigation, including a review of these documents, the SEC issued its closure letter, he said.

The letter was clear, however, that investigations close was not an exoneration of the company, nor does it preclude potential action in the future.

New York and Massachusetts are also investigating Exxon, looking into whether the company misled investors and the public regarding climate change and the potential effect it would have on its business.

> In March, a federal judge dismissed a lawsuit by ExxonMobil aimed at the stopping the investigations, dismissing as implausible the companys allegations that the states were acting in bad faith.


> Our investigation remains ongoing, said Amy Spitalnick, a spokeswoman for New York Attorney General Barbara Underwood. Were gratified that multiple courts have now rejected Exxons arguments regarding our investigation fully dismissing Exxons lawsuit against our office, and ordering Exxon and its accounting firm to produce the documents we subpoenaed.

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