Galt's Gulch

SEC investigating Exxon Mobil on climate change, accounting practices

Posted by Dobrien 7 years, 7 months ago to Economics
30 comments | Share | Flag

The Securities and Exchange Commission is reportedly investigating Exxon Mobil.
The Wall Street Journal reported that the investigation is looking into how the company evaluates project costs based on climate change risks as well as its accounting practices.
Schneiderman's office is already looking into whether the oil giant's past research into climate change, which did not become public until recently, could impact its business and shareholders
SOURCE URL: http://www.cnbc.com/2016/09/20/sec-investigating-exxon-mobil-on-climate-change-accounting-practices-report.html

Add Comment

FORMATTING HELP

All Comments Hide marked as read Mark all as read

    -
  • 10
    Posted by $ WilliamShipley 7 years, 7 months ago
    Reading it made a bit more sense. Apparently there are two issues:

    1. valuation of assets with the sustained lower price of oil (accounting).

    2. taking into account the possibility of future climate change REGULATIONS.

    While I don't think climate change represents a real threat, climate change regulations certainly do!
    Reply | Mark as read | Best of... | Permalink  
    • Posted by $ jlc 7 years, 7 months ago
      But one does have to take into account that the purpose of this investigation is not to 'right a wrong' but to enforce political correctness. Exxon Mobil has dared to publish data and expectations that do not agree with global warming - and that is not to be continuanced by the liberal body politic.

      This is about conformity as much as regulations or accounting.

      Jan
      Reply | Mark as read | Parent | Best of... | Permalink  
    -
  • Posted by $ AJAshinoff 7 years, 7 months ago
    Ah the fresh putrid stench of another government revenue stream being born.

    I wonder how many of the government agents walked, bicycled, or rode a horse to the Exxon offices to examine the books?
    Reply | Mark as read | Best of... | Permalink  
      -
    • Posted by edweaver 7 years, 7 months ago
      Well, the horse is out of the equation. Riding is animal abuse and then there is that problem with methane. [much sarcasm]
      Reply | Mark as read | Parent | Best of... | Permalink  
      • Posted by $ Snezzy 7 years, 7 months ago
        Horses? Some of us have 'em. Some of us have horse-drawn carriages. Over in Ohio, Pennsylvania and Indiana our Amish friends have zillions of them. In other areas there are a great number of people who have the skill of working draft animals and can teach it to those willing.

        Get rid of automotive power and the 1890 prediction that NYC roads will be neck-deep in fertilizer can yet some true. Horseowners stand ready to help!
        Reply | Mark as read | Parent | Best of... | Permalink  
      -
    • Posted by Dobrien 7 years, 7 months ago
      Hi AJAshinoff , I sure hope that ExxonMobil defends itself as they are more solvent than the govt. They should buy themselves the best attorneys money can buy and expose this Climate speculation for what it is.
      regards
      DOB
      Reply | Mark as read | Parent | Best of... | Permalink  
        -
      • Posted by $ AJAshinoff 7 years, 7 months ago
        I suspect they will.
        I also suspect the criminal fedgov and its judges will rule against them.
        I have no doubt Exxon will settle out of court to the tune of billions of dollars and an annual payment to the IRS to clean up future damage caused by its dirty and evil profession.
        Reply | Mark as read | Parent | Best of... | Permalink  
    -
  • Posted by Dobrien 7 years, 7 months ago
    The weather will fluctuate and will include wind, rain, snow ,hail , sleet,,and there will be calm weather and storms also temps will vary from hot to cold and season to season and ultimately it is up to the sun and other natural forces.
    Reply | Mark as read | Best of... | Permalink  
      -
    • Posted by $ allosaur 7 years, 7 months ago
      Big Brother is watching you.
      Reply | Mark as read | Parent | Best of... | Permalink  
        -
      • Posted by term2 7 years, 7 months ago
        big brother wants to either own US corporations, or at least tell them in detail what to do without taking the risk of owning them.
        Reply | Mark as read | Parent | Best of... | Permalink  
          -
        • Posted by $ allosaur 7 years, 7 months ago
          Methinks what Progressive Big Brother is all about is a modified form of fascism that replaces nationalism with globalism.
          Our American form of Big Brother does not want to communist own corporations but to be able to tell them what to do.
          This is what Nazi Germany did. This way billionaire George Soros can stay rich and get richer.
          Same goes for the Koch brothers as long as they knuckle under. They likely would not and thus be made examples of.
          Anyway, that's old dino's theory about who is Big Brother at least to date. My mind remains open.
          Reply | Mark as read | Parent | Best of... | Permalink  
            -
          • Posted by term2 7 years, 7 months ago
            They dont want to DO the work; they want to control others to do it under their direction. Why would they want to till the fields if they can get slaves to do it for them.

            It IS a war, and we DO need to take sides as Francisco said in AS. These statists are not good people. They are thieves plain and simple and deserve to be thought of and treated as such.
            Reply | Mark as read | Parent | Best of... | Permalink  
    -
  • Posted by wiggys 7 years, 7 months ago
    after all is said and done the government agency referred to as the sec is only wanting to find something that they can fine exxon with. why doesn't ther government charge all companies with factoring in how they affect the climate? you can explore all of what you want but it all boils down to fining them and then the they will go after all the other oil companies. who will pay the fine; you and me with price increases in every product that is made from oil over and above gasoline. pathetic
    Reply | Mark as read | Best of... | Permalink  
  • Posted by Temlakos 7 years, 7 months ago
    And for one reason only: ExxonMobil is the largest oil explorer/producer/refiner in the industry.

    This is about de-industrializing America.

    "I've just completed Mike's Nature trick...to hide the decline." We now deal with more than just a decline in temperature someone wanted to cover up.
    Reply | Mark as read | Best of... | Permalink  
  • Posted by RevJay4 7 years, 7 months ago
    Upon reflection of the past decades of my existence, I can see I made a grave error of judgement. I wasted my college education. I should have taken some major more in line with a career in law, which would have equipped me to be a DC critter of some sort. Making the big bucks off the suckers known as taxpayers.
    Alas, I have a soul. Wouldn't be able to do it. Only criminals can really pull it off successfully.
    The SEC is a sham, like the other alpha agencies, working for whoever is in power at the time to chase and harass its perceived enemies.
    Hopefully, this will end soon.
    Reply | Mark as read | Best of... | Permalink  
  • Posted by Owlsrayne 7 years, 6 months ago
    Climate change is a crock! I don't think it is a reality. What the SEC is doing is just another power play by Whitehouse intrusion into business affairs.
    Reply | Mark as read | Best of... | Permalink  

FORMATTING HELP

  • Comment hidden. Undo