Jenner & Block

“Crucifying ExxonMobil Will Not Solve Climate Change,” Inside Counsel

In this article, Jenner & Block Partner E. Lynn Grayson and Associate Alexander J. Bandza examine how 17 state attorneys general have issued subpoenas or in any number of ways conducted investigations into whether ExxonMobil lied to its investors about the threat posed to its earnings by climate change.  “However well-intentioned, these efforts against ExxonMobil miss the mark,” the authors observe.  They conclude that: “The attorneys general of 13 states wrote a sharply-worded letter in June to the 17 attorneys general leading the crusade against ExxonMobil, urging them to withdraw and noting that ‘this effort by our colleagues to police the global warming debate through the power of the subpoena is a grave mistake’ and ‘not a question for the courts.’ We agree. It is unfortunate that one industry, and primarily one company, is being called upon to defend the regulatory, policy and political failings of so many.”