ExxonMobil Is Being Probed Over Climate Change Activities: New York Times

By Ciara LinnaneMarketWatch Pulse

Exxon Mobil Inc. is under investigation in New York about whether the oil giant lied to the public about the risks of climate change, or to investors about how it would hurt the energy business, the New York Times reported Thursday, citing people with knowledge of the probe. New York Attorney General Eric Schneiderman issued a subpoena late Wednesday to the company, seeking documents, emails and other papers, the paper reported. It quoted Exxon spokesman Kenneth Cohen as acknowledging that the company had received the subpoena and was still deciding how to respond. The probe will look at Exxon's activities in the 1970s, including a period during which it funded groups that tried to undermine climate science, said the Times. Shares fell 1.4% in afternoon trade, and are down 8% in the year so far, while the Dow Jones Industrial Average has gained 0.2%.

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