California will attempt to use consumer protection laws to seize some of the world’s biggest oil companies’ profits as part of a lawsuit accusing them of deceiving the public for decades over their role in climate change. State attorney-general Rob Bonta invoked a new state law on Monday that allows claimants to target company profits that can be identified from the violation of consumer protection and advertising laws.
The top-10 listed US fossil fuel producers by value amassed a combined net income of $313bn in the first three years of the Biden administration, almost triple the amount in the same period under Trump. Oil and gas production in the US hit record levels in 2023. California’s lawsuit alleges that oil and gas executives knew that relying on fossil fuels would have catastrophic results but suppressed the information.
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