🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

U.S. House panel subpoenas Big Oil in climate deception probe

Published 11/02/2021, 05:28 PM
Updated 11/02/2021, 08:30 PM
© Reuters. FILE PHOTO: House Oversight and Government Reform Committee Chair Carolyn Maloney (D-NY) presides during a House Oversight and Government Reform Committee hearing to examine a Republican-led Arizona audit of the 2020 presidential election results in Arizo
CVX
-
RDSa
-
XOM
-
BP
-

By Timothy Gardner

WASHINGTON (Reuters) - The head of a U.S. House panel on Tuesday subpoenaed four major oil companies and two lobbying groups for documents related to their actions on global warming as part of a year-long probe into potential climate deception by the energy industry.

Representative Carolyn Maloney, a Democrat and the chairwoman of the House Committee on Oversight and Reform, issued subpoenas to Exxon Mobil Corp (NYSE:XOM), Chevron Corp (NYSE:CVX), BP (NYSE:BP) America and Shell (LON:RDSa) Oil, and to industry body the American Petroleum Institute (API) and the U.S. Chamber of Commerce.

The committee had asked the companies and organizations on Sept. 16 for documents on issues including their role in contributing to climate change, their marketing and lobbying efforts, and any funding of third parties to spread disinformation on climate.

"To date, none of the entities has substantially complied with the Committee’s requests" Maloney said on Tuesday in a memo to fellow members of the committee about the subpoenas.

Maloney had announced last week at the end of a hearing on Big Oil and climate disinformation that she would subpoena the companies and organizations, saying much of what the committee had received were publicly available documents.

Maloney and other Democrats on the committee say oil companies have reaped huge profits for decades while they misled the public on climate change and prevented action to curb it. The companies and organizations deny the assertions.

The panel has received some documents from former Exxon lobbyist, Keith McCoy, who was secretly recorded by environmental group Greenpeace saying the company's support of a carbon tax was a ruse, since the company believed the idea would never become law.

Democrats are modeling the probe on the Big Tobacco hearings of the 1990s which took place over many months and eventually revealed that companies buried evidence that cigarettes are addictive and harmful.

In response to the subpoena, Exxon spokesperson Casey Norton said the company is cooperating and has now provided almost 130,000 pages of documents "including internal emails".

Shell spokesperson Curtis Smith said Shell will continue to cooperate with the committee. Chevron spokesperson Braden Reddall said the company has been working to collect and produce the documents and will respond to the subpoena "appropriately".

A BP America spokesperson, J.P. Fielder, said BP is reviewing the subpoena and will continue working with the committee. BP has provided more than 17,000 pages of documents including internal materials.

© Reuters. FILE PHOTO: House Oversight and Government Reform Committee Chair Carolyn Maloney (D-NY) presides during a House Oversight and Government Reform Committee hearing to examine a Republican-led Arizona audit of the 2020 presidential election results in Arizona's most populous county, Maricopa, on Capitol Hill in Washington, U.S., October 7, 2021. REUTERS/Joshua Roberts/Pool/File Photo

Matt Letourneau, spokesperson for the U.S. Chamber of Commerce, said "we will review" the subpoena.

API spokesperson Bethany Aronhalt Williams said the group will work with the committee.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.