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Exxon claims California climate change hypocrisy

Exxon claims California climate change hypocrisy
"In a court filing in Texas on Monday, Exxon argued that these California cities and counties have contradicted themselves by admitting in bond sales that climate change risks are unpredictable. Exxon threatened a counter-lawsuit over alleged "abuse of government power."
Exxon (XOM) said that while these cities and towns warned that "imminent sea level rise presented a substantial threat to its jurisdiction...none of the municipalities disclosed to investors such risks."
Federal law requires companies and governments to reveal risks to investors before selling securities like stock or in this case muni bonds.
Exxon essentially accused the municipalities of fraud, arguing that this "stark and irreconcilable conflict" suggests the allegations local governments made against the oil industry "are not honestly held and were not made in good faith."