Global Warming Suit Against Oil Industry Goes to Appeals Court

Financial Post | Nov 22, 2019 at 5:49 PM
  • New York City urged a U.S. appeals court to reinstate a lawsuit against five of the world’s biggest oil companies, after a federal judge last year rejected a claim that the industry should reimburse the municipal government for costs tied to climate change.
  • New York claims the companies have been responsible for more than 11% of all the atmospheric carbon and methane pollution since the Industrial Revolution more than a century ago.
  • Keenan ruled that the federal Clean Air Act exclusively controls carbon dioxide emissions, barring New York’s suit and similar state-law claims.