Tuesday, 14 August, 2018

New York City just declared war on the oil industry

A view of the Exxon Mobil refinery in Baytown Texas 2008 A view of the Exxon Mobil refinery in Baytown Texas 2008
Anna Jefferson | 13 January, 2018, 06:17

Mayor Bill de Blasio, Comptroller Scott M. Stringer and other trustees of the city's $189 billion pension funds announced today a plan to divest city funds from fossil fuel reserve owners within five years, which would make New York City the first major USA pension plan to do so.

The municipality said that climate change cost the city billions of dollars in efforts to revamp sewer infrastructure, shore up coastal areas, and protect drinking water sources.

New York City has announced a move that could mean a day of reckoning for the oil industry.

However, he acknowledged that the lawsuit against BP, Chevron, Conoco Phillips, Exxon Mobil and Royal Dutch Shell - which says that the companies were aware for years that burning fossil fuels caused climate change, but hid the conclusions of their scientists - could take years to reach a resolution.

Speaking along with others in New York City, de Blasio referred to the devastation caused by Hurricane Sandy, a deadly storm that hit the city in 2012.

"At the same time, we're bringing the fight against climate change straight to the fossil fuel companies that knew about its effects and intentionally misled the public to protect their profits".

Kim Jong-un tells how long Pyongyang can withstand sanctions
In an interview with the Wall Street Journal , the American president said: "I probably have a very good relationship". He said that the Chinese, Russians and South Koreans didn't have to worry about them.

Institutional Ownership And Insider Trading At Valero Energy Corporation (VLO)
Taking a look at insider trading at Valero Energy Corporation (NYSE:VLO) can give useful insight into how the stock is performing. Putnam FL Investment Management Co. acquired a new stake in Valero Energy in the 3rd quarter valued at approximately $1,910,000.

Investors Catching Stocks Netflix, Inc. (NFLX)
Captrust Financial Advisors acquired a new position in shares of Netflix in the second quarter valued at approximately $139,000. The stock has "Buy" rating by Benchmark on Tuesday, February 16. (NASDAQ:NFLX) on Tuesday, January 2 to "Outperform" rating.

Curtis Smith, a Shell spokesman, that the company believes "climate change is a complex societal challenge that should be addressed through sound government policy and cultural change to drive low-carbon choices for businesses and consumers, not by the courts". The New Yorkers' pension funds are now worth $189 billion.

The city announced the lawsuit against the oil companies on Wednesday 10 January.

The case against the fossil fuel companies state that they've imperiled the city and cost an enormous amount of money to taxpayers as NY fights flooding and erosion caused by climate change. "Deliberately hurting pension holders, like the fine men and women who keep our city safe, is a disgraceful way to score cheap political points".

Commenting on the news that New York City is divesting its massive pension fund from fossil fuels, McKibben says "its decision signals the start of a real rout". Campaigners used the second anniversary of the Paris agreement to call for more effort to encourage divestment from fossil fuels. In September, de Blasio's rollout of a new set of mandates to cut emissions from big buildings from the New York City Council, which accused the mayor of acting unilaterally and failing to go far enough with the proposed rules.

Bill McKibben, one of the co-founders 350.org, said in a statement that NYC stepping up to the plate in this matter is a huge step in battling fossil fuel emissions.

Recommended

  • US surveillance programme handed by Home regardless of Trump…

    US surveillance programme handed by Home regardless of Trump…

    The House rejected the amendment 233-183, in a closer vote than expected, and approved the reauthorization by a vote of 256-164. The House is voting Thursday on possible changes.

    United Nations says Trump slur on 's…hole' countries is 'racist'

    Donald Trump has denied using vulgar language during a private meeting with lawmakers as he faced a global backlash over his comments about immigrants.

    W&T Offshore (NYSE:WTI) Getting Somewhat Favorable Press Coverage, Study Finds

    The range of a day's trading is high-low, and True Range expands into yesterday's close when it lands outside of today's range. Relative volume is the comparison of current volume to average volume for the same time of day, and it's displayed as a ratio.
  • Former Cardinals coach Bruce Arians picks Falcons-Steelers Super Bowl

    Former Cardinals coach Bruce Arians picks Falcons-Steelers Super Bowl

    This will bring the Falcons and the Vikings in the final match to determine who among them will play in this year's Super Bowl. The defense remained strong, however, as they have all season, and held the Bills to just 133 passing yards.
    Chris Matthews apologizes for making 'Cosby pill' joke before Hillary interview

    Chris Matthews apologizes for making 'Cosby pill' joke before Hillary interview

    The footage, unearthed by The Cut , shows Matthews preparing to interview Clinton during the presidential campaign in late 2016. Cosby has been accused by scores of women of sexual assault - often with the use of date-rape pills.

    'Unlikely' That Mueller Will Interview Him in Russia Investigation

    Schumer continued, "Here is the president of the United States imploring his party to take control of the investigation". Mr Grassley said he was "confounded" by the release and argued it could undermine attempts to get additional witnesses.
  • MA Trims Holdings in Apple Inc. (AAPL)

    MA Trims Holdings in Apple Inc. (AAPL)

    After $1.00 actual EPS reported by The TJX Companies, Inc. for the previous quarter, Wall Street now forecasts 26.00% EPS growth. It improved, as 52 investors sold AAPL shares while 1034 reduced holdings. 116 funds opened positions while 640 raised stakes.
    Boss still in dark over January budget

    Boss still in dark over January budget

    The hope is that the stand-off between Benitez and Ashley could end now that the billionaire is back in the country. Benitez spoke to Ashley - who returned from a holiday in the United States of America this week - last month.
    Loyal Dog Walks 40 Miles to Find Previous Owners

    Loyal Dog Walks 40 Miles to Find Previous Owners

    An animal shelter is trying to find a new home for a determined dog that set out not once, but twice, to find her previous owners. The shelter pointed out that Cathleen is just one of many dogs that need homes and families to love them.
  • Orioles, Machado Agree To $16M Deal For 2018 Season

    Orioles, Machado Agree To $16M Deal For 2018 Season

    Last year, Gausman settled just before his case was scheduled for a hearing and made $3.45 million. Machado had been named an All-Star in three of the four years prior but was passed over in 2017.
    Scientists catch supermassive black hole burping - twice

    Scientists catch supermassive black hole burping - twice

    The explanation for these gas-feeding events lies in a companion galaxy, which had previously collided with J1354. Researchers believe the black hole is behaving this way because it is consuming a huge amount of nearby matter.
    When Do the 2018 PyeongChang Winter Olympics Start?

    When Do the 2018 PyeongChang Winter Olympics Start?

    The two countries, on January 9, held their first official talks after more than two years. Chinese exports to North Korea declined 23.4 percent in the same period.

Bills fire offensive coordinator Rick Dennison after one season Bills fire offensive coordinator Rick Dennison after one season The play resulted in an offensive pass interference penalty and three points instead of seven. "There's some calls we want back". Incumbent starter Tyrod Taylor has one year left on his contract, but could be cut loose this offseason.

Reds clash test of title pedigree: Pep Reds clash test of title pedigree: Pep However, Anfield and the atmosphere there should give the Liverpool players that extra push that they need to win this game. But Liverpool vs City is so important to realise again, if we are able to do big things in this season ".

Wal-Mart Stores, Inc. (NYSE:WMT) Shares Sold by Denali Advisors LLC Following the completion of the sale, the insider now directly owns 6,748,580 shares in the company, valued at $660,146,095.60. Arrowmark Colorado Limited Co accumulated 12,007 shares or 0% of the stock. (NASDAQ:NFLX) for 10,884 shares. (NASDAQ:HOLX).

Dissidia Final Fantasy NT Beta Is Playable Now Dissidia Final Fantasy NT Beta Is Playable Now The open beta does not require PlayStation Plus for online multiplayer, though the full game does require the subscription. The New Game Plus lets players begin the game from level 90, and the New Game Minus excludes leveling up altogether.

Trump 'unlikely' to give interview to Russian Federation collusion investigators Trump 'unlikely' to give interview to Russian Federation  collusion investigators Bob Corker, R-Tenn., acknowledged he had received a copy but said "no further full committee activity is planned at this time ". The document has become a focus of Republican-led investigations into Russian meddling in the 2016 election.

Ryan: Trump's Remarks About Africa 'Unhelpful' Ryan: Trump's Remarks About Africa 'Unhelpful' My family, like a whole of people, came from Ireland and worked the railroads". "It's a handsome story of America", he said. Eventually, he said, they opened a farm in Wisconsin after they raised enough money.

Texas schools illegally denied special education to students Texas schools illegally denied special education to students Department of Education with its findings on the delivery of special education services in the state. AUSTIN – The Texas Education Agency (TEA) today received a final monitoring report from the U.S.

Institutional Investor's Anti-Exxon Mobil Corp (NYSE:XOM) Sentiment In Q3 2017 It is flat, as 57 investors sold XOM shares while 806 reduced holdings. only 114 funds opened positions while 621 raised stakes. The stock of Exxon Mobil Corporation (NYSE: XOM ) earned "Market Perform" rating by BMO Capital Markets on Friday, December 2.

RB Leipzig Troll Liverpool Fans Over Naby Keita RB Leipzig Troll Liverpool Fans Over Naby Keita The Dutchman made an immediate impact, scoring the victor on his Anfield debut in the 2-1 FA Cup victory over Everton. Liverpool need to replace Philippe Coutinho as soon as possible in the January transfer window.

Coastal States Protest Trump's Offshore Drilling Plan Coastal States Protest Trump's Offshore Drilling Plan Alaska and ME are the only two USA states whose governors have expressed support for the plan. The draft plan now under development would run from 2019 through 2024.

Snyder's-Lance (LNCE) Given a $50.00 Price Target by Deutsche Bank Analysts Market worth or Market capitalization is calculated by multiplying the price of a stock by its total number of outstanding shares. The stock of EPAM Systems, Inc. (NASDAQ: LNCE ) has "Market Perform" rating given on Monday, December 18 by BMO Capital Markets.

India vs South Africa: It's advantage South Africa ! India vs South Africa: It's advantage South Africa ! The difference was Laxman, who crafted a sublime second-innings 96 on a pitch where no one else on either side went past 40. The Indian skipper emphasised that team selection was less about individuals but more about "finding the right balance".

Britain's plastic waste measures don't go far enough, say campaigners Britain's plastic waste measures don't go far enough, say campaigners The government has set a 25 year plan to set up a circular economy in single use plastics, and even suggested supermarkets set up a "plastic free aisle".

Mark Wahlberg Refused to Approve Kevin Spacey's Replacement Unless He Got Paid Mark Wahlberg Refused to Approve Kevin Spacey's Replacement Unless He Got Paid Plummer, who was brought in to replace Spacey, and the crew of the film were all fully compensated for their work on the reshoot. I wouldn't do that...' The actress, 37, was reportedly paid an $80 per diem.

Iran protests pose an unpredictable challenge for authorities Iran protests pose an unpredictable challenge for authorities Crowds of marching protesters were shown shouting slogans against mullahs and other religious figures in the country. The White House dismissed suggestions that Trump's interventions could fuel allegations of foreign hands at work.