Oil Majors Win Dismissal Of New York City Climate Lawsuit

A U.S. judge on July 19 dismissed a lawsuit by New York City seeking to hold major oil companies liable for climate change caused by carbon emissions from burning fossil fuels.

In dismissing the city’s claims against Chevron Corp. (NYSE: CVX), BP Plc (NYSE: BP), ConocoPhillips (NYSE: COP), Exxon Mobil Corp. (NYSE: XOM) and Royal Dutch Shell Plc (NYSE: RDS.A), U.S. District Judge John Keenan in Manhattan said climate change must be addressed through federal regulation and foreign policy.