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Pin to quick picksShell Share News (SHEL)

Share Price Information for Shell (SHEL)

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Share Price: 2,791.00
Bid: 2,791.50
Ask: 2,792.50
Change: -16.50 (-0.59%)
Spread: 1.00 (0.036%)
Open: 2,822.50
High: 2,830.00
Low: 2,779.50
Prev. Close: 2,807.50
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Republican-led states ask Supreme Court to quash Big Oil climate lawsuits

Thu, 23rd May 2024 21:40

May 23 (Reuters) - Nineteen Republican attorneys general have filed a rare complaint directly with the U.S. Supreme Court asking it to block several Democratic-led states from pursuing climate change-related litigation against major oil and gas companies in state courts.

The challenge, which legal experts say is unlikely to be successful because it raises arguments that are similar to ones the court has already refused to consider, was filed on Wednesday by states including Alabama, Florida and West Virginia against five Democratic-led states.

The complaint alleges that California, New Jersey, Connecticut, Minnesota and Rhode Island, by suing major energy companies in state court seeking damages for the harms of climate change, are essentially trying to regulate global emissions and the U.S. energy system. The lawsuit asks the high court to enjoin the defendant states from suing the companies over emissions or the sale and promotion of fossil fuel products in the plaintiff states.

Those regulatory powers are reserved for the federal government under federal law, the Republican-led states said.

“These states are welcome to enforce their preferred policies within their jurisdiction, but they do not have authority to dictate our national energy policy,” said Alabama Attorney General Steve Marshall in a statement.

The five states are among dozens of states and municipalities that have filed similar lawsuits against major fossil fuel companies such as Exxon, ConocoPhillips , Shell and BP, alleging the companies knew for decades that burning fossil fuels would lead to climate change but worked to conceal that fact from the public. They claim the companies created a public nuisance or violated state laws in doing so.

The energy companies did not immediately respond to requests for comment on Thursday. They have argued the lawsuits seek to regulate interstate emissions or commerce, which are powers reserved for the federal government.

“This is pure partisan political theater,” Connecticut Attorney General William Tong, a Democrat, said in a statement. “Our case is about truth in advertising, and not emissions controls.”

The Supreme Court refused last year to hear bids by oil companies to move several of the lawsuits to federal court, after numerous U.S. appeals courts said the claims are not preempted by federal law.

Fossil fuel companies made similar arguments before the high court in February in an effort to scrap a decision allowing a lawsuit filed by Honolulu, Hawaii, to go to trial. The request is pending.

Legal experts said the Supreme Court is unlikely to take the case filed Wednesday, noting the court has discretion to do so and has already seen the arguments.

“The arguments are almost entirely variations on those that were raised by the fossil fuel industry in their unsuccessful attempts to argue that these suits belong in federal court,” said Doug Kysar, a professor at Yale Law School.

The case is State of Alabama et al. v. State of California et al., in the U.S. Supreme Court, case number not immediately available.

For the challengers: Their respective attorneys general offices

For the defendants: Their respective attorneys general offices (Reporting by Clark Mindock)

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Policy approved with two-third of votes in favour

*

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Trades   Bids   Offers  Previous  Seller  Buyer
Session
0.1 GO Barge April
diffs fob ARA -$29.0
per tonne 0
<GO-ED-ARA>
0.1 GO Cargo
diffs cif NWE
per tonne
<GO-CND-NWE>
0.1 GO Cargo
diffs cif Med
per tonne
<GO-CND-MED>
50ppm barge May
diffs fob ARA +$2.0
per tonne 0
<GO50PPM-ED-A
RA>

Diesel Trades Bids Offers Previous Seller Buyer
Session
Diesel barge May -$2 April April Apr
diffs fob ARA to -$4 Flat -$1/+2 -$0.25-+
per tonne .00 $1
<ULSD10-BD-AR
A>
Diesel cargo 2 May Litasc Glenco
diffs cif NWE cargoes +$20.2 o re
per tonne at May 5
<ULSD10-ANYD- $12.50
NWE>
Diesel cargo Med Med
diffs cif Med +$6.0 +$0.75
per tonne 0
<DL-CIFD-MED>

Jet fuel Trades Bids Offers Previous Seller Buyer Session
Jet fuel
barge
diffs fob
FARAG
per tonne
<JET-BD-ARA>
Jet fuel CCM CCM
cargo -$4 -+2
cif NWE per
tonne
<JET-CD-NWE>

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