Exxon denies that it misled investors on climate risks - KTEN.com - Texoma news, weather and sports

Exxon denies that it misled investors on climate risks

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By CATHY BUSSEWITZ
Associated Press

NEW YORK (AP) - Attorneys for New York state say climate change may be the defining risk for oil and gas companies in coming decades and that Exxon Mobil misled investors about how it was handling that risk.

Lawyers made closing arguments Thursday in a case that accused the energy giant of downplaying the impact of stricter climate regulations in a warming world.

New York's attorneys say Exxon Mobil used two sets of books to account for how potential regulations would impact its business. They say Exxon wanted to make its oil and gas development projects look more attractive to investors.

Exxon attorney Ted Wells says the company took climate risks seriously. He denies that Exxon used two sets of books and says the state failed to prove any investors were harmed.

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