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Despite the title, I didn’t see any examples of Big Oil suing countries to block climate action in the article. Did I miss it? Early in the article it talks ab
by barney54 4y ago
Despite the title, I didn’t see any examples of Big Oil suing countries to block climate action in the article. Did I miss it? Early in the article it talks about Vermillion, but they aren’t Big Oil.
- toma_caliente 4y agoVermillion is absolutely "Big Oil." They are an oil and gas company that make several billion a year. If you don't consider that "big" I don't know what is.
- barney54 4y agoBig Oil is ExxonMobil, Shell, BP, Aramco, Total, Chevron—companies of that magnitude. Regardless, Vermillion is the only oil company that sued anyone and did it a few years ago. Where’s the evidence of Big Oil currently suing?
- gomijacogeo 4y agoMy impression is this is a technique of the 2nd tier energy companies (e.g. https://www.isds.bilaterals.org/vattenfall-vs-germany-i-coal-fired https://www.isds.bilaterals.org/vattenfall-vs-germany-i-coal...). Companies like BP, Total, etc operate more like nation-states and have other tools available. I'd still call them "Big Energy" however.
- em-bee 4y agowhich makes sense. second tier companies are less likely to survive, so they have to fight harder
- gowld 4y agoVermillion: $5B Exxon: $440B
- kennywinker 4y agoIn the PDF of the report linked (https://www.iisd.org/system/files/2022-01/investor%E2%80%93state-disputes-fossil-fuel-industry.pdf https://www.iisd.org/system/files/2022-01/investor%E2%80%93s...) there's a table of cases they're citing as examples. Two of them are "Chevron and TexPet v. Ecuador" (part I and II). Chevron is undoubtedly a Big Oil company.