SEC Drops Investigation Of Exxon Over ‘Climate Change’ Disclosures

This will make members of the Cult of Climastrology so upset that they’ll jump in their fossil fueled vehicles to go protest (and leave a bunch of litter behind)

(Wall Street Journal) Securities regulators dropped an investigation into whether Exxon Mobil Corp. misled investors about its accounting practices and the risks that climate change and greenhouse-gas regulations posed to its business.

The Securities and Exchange Commission in a Thursday letter informed Exxon that it closed the probe and decided against trying to penalize the energy giant over its disclosures and how it valued oil and gas assets. The letter was reviewed by The Wall Street Journal.

Exxon in a statement confirmed the probe had ended, saying it began in January 2016 and involved more than 4.2 million pages of records. “After a thorough investigation, including a review of these documents, the SEC issued its closure letter,” company spokesman Scott Silvestri said in the statement.

Of course, the unhinged AGs of NY and Massachusetts are continuing their own probes, using lots and lots of fossil fuels to do so.

Under U.S. law, public companies must tell shareholders about risks or uncertainties that matter to shareholders’ investment decisions. Environmental groups and some activist investors have pushed the SEC to force companies to disclose more about how they weigh their exposure to climate change.

Realistically, most do not actually care about it beyond some platitudes. They sure do not care enough to modify their own lives and stop using fossil fuels.

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