Currents - Energy Industry Insights: Volume 5, Issue 12

Oil Giants Win Climate Suit as Judges Push for Political Fix -

"New York City suffered another setback in its effort to make Exxon Mobil Corp., BP Plc and other energy companies help cover the public costs of dealing with climate change, as a federal appeals court ruled the global problem demands political rather than legal action."

Why this is important: This ruling is important for two reasons. First, it provides clarity to potential claimants on the proper method for addressing issues associated with climate change. Since the issue is “uniquely an international concern,” the court determined that the ultimate solution should come from the legislature and not the courts. Second, by requiring that the issue be resolved by the legislature, the court prevents the creation of a patchwork of inconsistent judicial decisions that place different requirements on different defendants depending on the jurisdiction.

Please see full Newsletter below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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