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Bill de Blasio accuses “big oil” of pulling a slick one on NYC

The City of New York is suing the world’s biggest energy companies, accusing them of willfully deceiving the public, contributing to global climate change, and endangering the city and its residents in the name of lush profits. In a legal complaint that names BP, Chevron, ConocoPhillips, ExxonMobil, and Royal Dutch Shell, the city said the companies “deliberately engaged in a campaign of deception and denial about global warming and its impacts.”

In the wake of devastating storms like Hurricane Sandy–which caused damage in the tens of billions of dollars when it rolled through through the New York metro area in late 2012–officials are seeking to “shift the costs of protecting the city from climate change impacts back onto the companies that have done nearly all they could to create this existential threat.” The city also says it will explore ways to divest almost $200 billion in pension funds from Big Oil interests.

New York Mayor Bill de Blasio tweeted about the effort earlier today. Here’s more from Financial Times.

CZ