All posts tagged "Big Oil"

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With demand for fossil fuels expected to decline as the world shifts toward electric vehicles and renewable energy, Big Oil is in the midst of an enormous pivot to plastic production. And taxpayers are helping them.

Petrochemical companies like Shell and Exxon Mobil have received nearly $9 billion in state and local tax breaks since 2012 to build or expand 50 plastics manufacturing facilities, according to a report the Environmental Integrity Project, or EIP, released today. Much of that activity occurred along the Gulf Coast of Texas and Louisiana, often alongside marginalized communities. What’s more, 84 percent of the operations released more air pollutants than allowed during the past three years, despite their promises to protect public health and the environment, the nonprofit found. ...

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The flood-prone city of Hoboken, New Jersey, sued Exxon, Chevron, and other oil companies three years ago, hoping to put them on trial for deceiving the public. Like other lawsuits set in motion by “Exxon Knew” investigations, Hoboken made the case that they breached state consumer protection laws by hiding the risks of burning fossil fuels.

But the lawsuit recently took a novel twist. Hoboken’s lawyers amended the complaint in late April, alleging that Big Oil had violated the state’s Racketeer Influenced and Corrupt Organizations Act, known as RICO, as first reported by the accountability site ExxonKnews. New Jersey’s statute is modeled after a federal RICO law passed in 1970 designed to take down organized crime. These racketeering lawsuits aren’t just for the Mafia anymore; they’ve also been successful against tobacco companies, such as Philip Morris, and pharmaceutical executives tied to the opioid epidemic....