NYC sues 5 oil companies for global warming

H

Hoid

Hall of Fame Member
Oct 15, 2017
20,408
4
36
New York sues oil companies, plans divestment from pension funds - Business - CBC News

New York City announced on Wednesday that it filed a multibillion-dollar lawsuit against five top oil companies, citing their "contributions to global warming," as it said it would divest fossil fuel investments from its $189-billion public pension funds over the next five years.

I can't understand how anyone running a pension fund could own shares of oil companies. They are a dead end business.

I'm sure those $5 billion worth of shares hitting the market will do wonders for the stock price.

Walter will be all over that once he's done loading up on that fine GE stock.
 
Danbones

Danbones

Hall of Fame Member
Sep 23, 2015
24,505
2,198
113
LOL, first you would have to prove globall warming, which is now climate change...
which is also global cooling.

WOW, how could you people get things so screwed up?
;)
not good at being two faced?
 
taxslave

taxslave

Hall of Fame Member
Nov 25, 2008
36,362
4,340
113
Vancouver Island
Hoid said:
New York sues oil companies, plans divestment from pension funds - Business - CBC News

New York City announced on Wednesday that it filed a multibillion-dollar lawsuit against five top oil companies, citing their "contributions to global warming," as it said it would divest fossil fuel investments from its $189-billion public pension funds over the next five years.

I can't understand how anyone running a pension fund could own shares of oil companies. They are a dead end business.

I'm sure those $5 billion worth of shares hitting the market will do wonders for the stock price.

Walter will be all over that once he's done loading up on that fine GE stock.
Click to expand...

Did they shut down all the roads and fire everyone that drives a city vehicle?
 
Jinentonix

Jinentonix

Hall of Fame Member
Sep 6, 2015
11,619
6,262
113
Olympus Mons
Hoid said:
New York sues oil companies, plans divestment from pension funds - Business - CBC News

New York City announced on Wednesday that it filed a multibillion-dollar lawsuit against five top oil companies, citing their "contributions to global warming,"
Click to expand...
:lol: :lol: :lol: What a useless exercise in mental masturbation. I take it then that NYC is completely and fully powered by nothing but "green" energy? All city vehicles are electric powered? All city employees personal vehicles are electric powered? No plastics at all in NYC? No surgical gowns and gloves? Nothing at all that's oil based in any of the city offices? Not even a jar of Vaseline or tin of Brasso in the entire city? No synthetic rubber in use anywhere in the city?

I'm hoping you got the point by now.

And how much money is this impotent, virtue signalling yet hilariously hypocritical show going to cost the fine people of NYC?
 
H

Hoid

Hall of Fame Member
Oct 15, 2017
20,408
4
36
taxslave said:
Did they shut down all the roads and fire everyone that drives a city vehicle?
Click to expand...
they paid all the costs resulting from climate change.


like they used to pay all the costs resulting from lung cancer

i believe that running total fr tobacco lawsuits just passed $100 billion

this litigation should lead to 10 times that - just a guess
 
H

Hoid

Hall of Fame Member
Oct 15, 2017
20,408
4
36
Twin_Moose said:
Interesting especially since Exxon is the only American owned oil company
Click to expand...
They got $20 billionish out of BP for the deep water thing. It doesn;t really matter where a company is headquartered. If you are doing business in America you can get sued.

New York city is going to be pissed when they find out they are not number one anymore.

I think you have been wiki'ed into believing some fake news.
 
Jinentonix

Jinentonix

Hall of Fame Member
Sep 6, 2015
11,619
6,262
113
Olympus Mons
Hoid said:
they paid all the costs resulting from climate change.
Click to expand...
Right, right. Because when you build a sizable portion of a city on reclaimed land, the only possible way it could flood is man-caused global warming.


Hoid said:
like they used to pay all the costs resulting from lung cancer

i believe that running total fr tobacco lawsuits just passed $100 billion

this litigation should lead to 10 times that - just a guess
Click to expand...
Not likely. Tobacco is a useless product that serves no real purpose for the consumer while govts make money off their addiction. Oil is absolutely essential to the global economy. Hell, it IS the global economy.

Has NYC banned the use of all fossil fuels and any products made from fossil fuels from the city? No? Then this lawsuit is a nuisance lawsuit. Quite frankly, the only chance they have of winning is if they get a judge who's so far to the left he or she is willing to turn their courtroom into a kangaroo court. At which point there will be an instant appeal and a higher court will ultimately overturn the original ruling.

To repeat, this stunt is just an exercise in mental masturbation. Their ports are still open and so are their freight train termini. Guess what powers those ships and trains? So it would appear that the hypocrites running NYC like the economic benefits of oil...
Dumping oil stocks is a show. Let's see if they divest themselves of all oil-based products in the city before this joke of a lawsuit gets heard in court.
 
H

Hoid

Hall of Fame Member
Oct 15, 2017
20,408
4
36
I'm sure it will all get worked out in the end. Probably take 20 years and 500 lawsuits - but the payout will be huge. or yuge.
 
Danbones

Danbones

Hall of Fame Member
Sep 23, 2015
24,505
2,198
113
Yeah when oil goes back up to 80 bucks a barrel the liebarrel splatters on the concrete will be 'uge
;)
but jumping from windows will be about the only way to avoid being lynched by broke pensioners.
 
Danbones

Danbones

Hall of Fame Member
Sep 23, 2015
24,505
2,198
113
oh boomer the retard the hacker accuser
;)
why not drive up here to midland so i can straighten you out chiken poop?
 
Jinentonix

Jinentonix

Hall of Fame Member
Sep 6, 2015
11,619
6,262
113
Olympus Mons
Hoid said:
I'm sure it will all get worked out in the end. Probably take 20 years and 500 lawsuits - but the payout will be huge. or yuge.
Click to expand...
Do you not understand the significance of oil production? Do you have ANY clue at all just how much stuff we have that wouldn't even exist without oil (or natural gas)?
Look around your home there, bud. I'll bet dollars to donuts you'll be hard-pressed to find a room in your home that doesn't have any oil-based products in it. Even when it comes to our personal communication devices we have to give a hardy thank-you to oil. Do you know what the only by-product of wind power is? Chopped up birds and bats. Know what the by-products of solar power are? Fried birds in flight. Although microwave towers tend to so the same thing but in a different way. Know what one of the by-products of coal production is? The steel you'll need to make to build all this "green" energy lie. Know what the by-products of oil are? Google it. There's way, WAY too many to list, including about 600 every day consumer products, many of which are found in just about every household.

Again, here's the difference between tobacco and oil. Tobacco is essentially a product that will cause harm to or kill you when used as intended. There is no purpose for it other than to feed a physical addiction which you wouldn't have if govts hadn't caved in to the tobacco companies. I wonder how many govts were successfully sued for their part compared to successful suits against tobacco companies.

I also notice that despite two posts now, you completely avoid the gross hypocrisy of the NYC administration. So sure that some idiotic show-trial is the right way to go despite the fact that NYC sure does enjoy the benefits of an oil-based economy. And correct me if I'm wrong, but NYC is still considered to be one of the world capitals of business and finance. That's an awful lot jet fuel being burned just for international business trips to keep NYC propped up as a world capital. I'm also pretty sure NYC sees a lot of tourist dollars. Tourists burn gas one way or another to get to NYC to spend their tourist dollars.
 
Decapoda

Decapoda

Council Member
Mar 4, 2016
1,682
801
113
Danbones said:
Yeah when oil goes back up to 80 bucks a barrel the liebarrel splatters on the concrete will be 'uge
;)
but jumping from windows will be about the only way to avoid being lynched by broke pensioners.
Click to expand...

Unfortunately, we are being short-changed on what we get for our oil compared to US, due to transport bottlenecks. The price disparity is at its largest it's been since 2013 and won't get any better until we can move our product. This is only part of the equation, there's also further devaluation of Canadian oil due to the low Canadian dollar.

Even when prices come back, it's not going to help us much unless we start moving it to market.

Pipeline bottlenecks push Canadian oil price to deepest discount in 4 years - Business - CBC News
 
You must log in or register to reply here.
Top Bottom