New York State continues to hound the fossil-fuel industry with litigation. Mayor de Blasio’s lawsuit against Big Oil was thrown out, but Attorney General Letitia James is using New York’s Martin Act to accuse ExxonMobil of defrauding shareholders. New York’s elected officials should focus less on making headlines as climate-change heroes and pay more attention to how regulatory restrictions are hampering the state’s economy.
The Facts You Need to Know
Blame: In a lawsuit blaming energy companies for causing climate change,the city essentially demanded a rollback of the Industrial Age. Read more.
Blue Sky: New York’s 1921 Martin Act gives prosecutors an overly broad definition of fraud, requiring neither intent nor damages. Read more.
Policy: By banning fracking and limiting pipeline construction, New York could cripple its local economies. Read more.
"Anti-development constituencies in New York are always receptive to calls for shutting down energy exploration."
The Past is Present
“The role of the public advocate in New York City’s government is one of the great mysteries of local politics, not least of all to the people who hold the title.”
And in other news...
“Those potential pitfalls could also await the nascent candidacy of Michael R. Bloomberg, the former mayor who seemingly took the first step toward running for president on Friday, filing paperwork in Alabama to become a candidate in the Democratic primary in that state.”