PYX Resources: Achieving volume and diversification milestones. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksRDSA.L Share News (RDSA)

  • There is currently no data for RDSA

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

UPDATE 2-Oil companies defeat New York City appeal over global warming

Thu, 01st Apr 2021 15:11

(Adds details from decision, comment, background, case
citation, bylines)

By Jonathan Stempel and Sebastien Malo

NEW YORK, April 1 (Reuters) - A federal appeals court on
Thursday rejected New York City's effort to hold five major oil
companies liable to help pay the costs of addressing harm caused
by global warming.

Ruling in favor of BP Plc, Chevron Corp,
ConocoPhillips, Exxon Mobil Corp and Royal Dutch
Shell Plc, the 2nd U.S. Circuit Court of Appeals in
Manhattan said the regulation of greenhouse gas emissions should
be addressed under federal law and international treaties.

It rejected the city's efforts to sue under state nuisance
law for damages caused by the companies' "admittedly legal"
production and sale of fossil fuels, and said the city's federal
common law claims were displaced by the federal Clean Air Act.

"Global warming presents a uniquely international problem of
national concern," Circuit Judge Richard Sullivan wrote for a
three-judge panel. "It is therefore not well-suited to the
application of state law."

Sullivan added that while the Clean Air Act did not address
emissions from outside the country, foreign policy concerns and
the risk of courts "stepping on the toes of the political
branches" barred the city's lawsuit.

Nick Paolucci, a spokesman for the city's law department,
said the city was disappointed it could not hold the oil
companies "accountable for the environmental damage they knew
their products would cause."

The companies did not immediately respond to requests for
comment. Thursday's decision upheld a July 2018 dismissal by
U.S. District Judge John Keenan in Manhattan.

New York City's lawsuit was an early effort among U.S.
states and municipalities to turn to the judiciary and invoke
state law to address climate change.

Since Keenan's ruling, some have turned to state courts to
make their cases.

The appeals court decision "confirms the wisdom of filing
state common law lawsuits in state courts that are unlikely to
be controlled by federal law," said Robert Percival, a
University of Maryland law professor.

In January, two New York City public pension funds voted to
divest $4 billion in fossil fuel investments.

The case is City of New York v Chevron Corp et al, 2nd U.S.
Circuit Court of Appeals, No. 18-2188.
(Reporting by Jonathan Stempel and Sebastien Malo in New York
Editing by Chizu Nomiyama, Jonathan Oatis and David Gregorio)

More News
3 Dec 2021 09:44

LONDON BROKER RATINGS: Jefferies ups SSE, AJ Bell; Deutsche likes BP

LONDON BROKER RATINGS: Jefferies ups SSE, AJ Bell; Deutsche likes BP

Read more
3 Dec 2021 08:43

LONDON MARKET OPEN: Stocks rebound on oil and travel; US jobs ahead

LONDON MARKET OPEN: Stocks rebound on oil and travel; US jobs ahead

Read more
2 Dec 2021 18:54

UPDATE 2-Shell scraps plans to develop Cambo North Sea oilfield

(Adds detail)By Ron Bousso and Shadia NasrallaLONDON, Dec 2 (Reuters) - Royal Dutch Shell said on Thursday it had scrapped plans to develop the Cambo oilfield in the British North Sea, which became a lightning rod for climate activists seeking to ...

Read more
2 Dec 2021 18:54

UPDATE 1-Shell scraps plans to develop Cambo North Sea oilfield

(Adds Siccar Point statement, background)LONDON, Dec 2 (Reuters) - Royal Dutch Shell said on Thursday it had scrapped plans to develop the Cambo North Sea oilfield, which became a lightning rod for climate activists seeking to halt Britain's devel...

Read more
2 Dec 2021 18:54

UPDATE 3-Shell scraps plans to develop Cambo North Sea oilfield

(Adds investor comment)By Ron Bousso and Shadia NasrallaLONDON, Dec 2 (Reuters) - Royal Dutch Shell said on Thursday it had scrapped plans to develop the Cambo oilfield in the British North Sea, which became a lightning rod for climate activists s...

Read more
2 Dec 2021 18:02

Shell and partner scrap plans to develop North Sea oilfield

LONDON, Dec 2 (Reuters) - Royal Dutch Shell and Siccar Point have decided not to go ahead with the development of the Cambo oilfield in the British North Sea due to a weak economic case, Shell said on Thursday."After comprehensive screening of the...

Read more
2 Dec 2021 17:05

LONDON MARKET CLOSE: Stocks fall as Omicron variant fears mount

LONDON MARKET CLOSE: Stocks fall as Omicron variant fears mount

Read more
2 Dec 2021 12:03

LONDON MARKET MIDDAY: Europe hit by Omicron but Wall Street to rebound

LONDON MARKET MIDDAY: Europe hit by Omicron but Wall Street to rebound

Read more
2 Dec 2021 10:08

UPDATE 2-European stocks fall as Omicron worries rattle investors

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)* STOXX 600 gives back a chunk of Wednesdays gains* Apple suppliers hit by report on slowing demand* Vifor Pharma surges on takeover speculat...

Read more
2 Dec 2021 08:31

SSE and Equinor to proceed with $4 bln Dogger Bank C offshore wind farm

OSLO, Dec 2 (Reuters) - British utility SSE and Norwegian energy company Equinor have secured financing to proceed with the construction of the 3 billion pound ($3.98 billion) Dogger Bank C offshore wind farm in Britain, the companies said on Thu...

Read more
2 Dec 2021 07:03

Shell launches $1.5bn buyback from Permian sale

(Sharecast News) - Royal Dutch Shell has launched a $1.5bn share buyback as the first stage of returning cash to shareholders from the sale of its Permian business in the US.

Read more
1 Dec 2021 12:10

German oil lobby seeks net zero CO2 emissions by 2045

FRANKFURT, Dec 1 (Reuters) - Germany's oil industry will aim for net zero carbon emissions by 2045, moving away from fossil fuel to low carbon products such as biofuels and renewable energy-derived hydrogen, the industry's lobby group en2x said on...

Read more
1 Dec 2021 12:10

LONDON MARKET MIDDAY: IAG and Whitbread lead Omicron rebound

LONDON MARKET MIDDAY: IAG and Whitbread lead Omicron rebound

Read more
1 Dec 2021 08:54

LONDON MARKET OPEN: Omicron fears ease again but uncertainty lingers

LONDON MARKET OPEN: Omicron fears ease again but uncertainty lingers

Read more
30 Nov 2021 17:33

UPDATE 3-U.S. security review stalls sale of Shell Texas refinery to Mexico's Pemex

(Updates with comment from congressman critical of sale)By Erwin SebaHOUSTON, Nov 30 (Reuters) - A U.S. national security review has delayed the sale of Royal Dutch Shell's controlling interest in a Texas refinery to Mexico's national oil company, ...

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.