Liam Denning, Columnist

New York Wants to Make Exxon’s Life More Expensive

The industry thwarted common-sense regulation, so activists and regulators are finding other ways to raise costs.

October 25, 2018 at 4:36 PM UTC

Liam Denning is a Bloomberg Opinion columnist covering energy. A former banker, he edited the Wall Street Journal’s Heard on the Street column and wrote the Financial Times’s Lex column.

Costs are going up all over.
Photographer: Tim Sloan/AFP/Getty Images

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If you really want to tweak Exxon Mobil Corp., forget critiques of its carbon footprint or where it chooses to do business. Question the numbers.

That’s the approach taken in New York Attorney General Barbara Underwood’s suit just filed against the oil major. It accuses Exxon of defrauding its own investors about the impact future climate-change regulations could have on its business.