New York City Takes On Oil Companies

New York City announced a lawsuit against five major oil companies, and a commitment to divest $5 billion of the city's pension funds from companies involved in the fossil fuel business.

 

The lawsuit against BP, Chevron, Conoco Phillips, Exxon Mobil and Royal Dutch Shell argues that companies hid evidence on the effects of burning fossil fuels on the climate for years. San Francisco and Oakland; the California counties of Marin and San Mateo and the City of Imperial Beach; and the City of Santa Cruz and Santa Cruz County all filed similar lawsuits last year.