Exxon Mobil Billings Refinery sits in Billings, Mont. Exxon Mobil’s scientists were remarkably accurate in their predictions about global warming, even as the company made public statements that contradicted its own scientists' conclusions, a new study says. (AP Photo/Matthew Brown, File)
UN Secretary-General António Guterres on Wednesday called out ExxonMobil for withholding highly accurate predictions about the impact of climate change.
“Some in Big Oil peddled the big lie," he said. "The science has been clear for decades. I’m not talking only about UN scientists, I’m talking even about fossil fuel scientists."
Guterres referred to a recent study from Science showing that Exxon predicted fossil fuel use would have “dramatic environmental effects before the year 2050" as far back as the 1970s. The study also found that Exxon's own predictive models have proven remarkably accurate.
"Our results show that in private and academic circles since the late 1970s and early 1980s, ExxonMobil predicted global warming correctly and skillfully," read the study. "Using established statistical techniques, we find that 63 to 83 percent of the climate projections reported by ExxonMobil scientists were accurate in predicting subsequent global warming."
The data builds on a story that was first revealed by investigative journalists for Inside Climate News back in 2015, which showed that Exxon executives intentionally withheld from the public in-house studies showing that continued carbon emissions would cause global warming.
The report quickly spurred a backlash against the company, with #Exxonknew circulating widely on social media platforms. Exxon has so far disputed the findings.
"#ExxonKnew is an orchestrated campaign that seeks to delegitimize ExxonMobil by misrepresenting our position on climate change and related research to the public," the company previously wrote on its website.
The UN chief, for his part, isn't buying the company's argument.
"Just like the tobacco industry, they rode roughshod over their own science," Guterres said.
The critiques of Big Oil came amid an altogether gloomy speech. Guterres said the world is in a "sorry state" and that global challenges are “piling up like cars in a chain reaction crash.”
Nvidia on Wednesday became the first public company to reach a market capitalization of $5 trillion. The ravenous appetite for the Silicon Valley company’s chips is the main reason that the company’s stock price has increased so rapidly since early 2023.
Chris Williamson, Chief Business Economist at S&P Global, breaks down September’s CPI print and inflation trends, explaining what it means for markets.
A big-screen adaptation of the anime “Chainsaw Man” has topped the North American box office, beating a Springsteen biopic and “Black Phone 2.” The movie earned $17.25 million in the U.S. and Canada this weekend. “Black Phone 2” fell to second place with $13 million. Two new releases, the rom-com “Regretting You” and “Springsteen — Deliver Me From Nowhere,” earned $12.85 million and $9.1 million, respectively. “Chainsaw Man – The Movie: Reze Arc” is based on the manga series about a demon hunter. It's another win for Sony-owned Crunchyroll, which also released a “Demon Slayer” film last month that debuted to a record $70 million.
The Federal Aviation Administration says flights departing for Los Angeles International Airport were halted briefly due to a staffing shortage at a Southern California air traffic facility. The FAA issued a temporary ground stop at one of the world’s busiest airports on Sunday morning soon after U.S. Transportation Secretary Sean Duffy predicted that travelers would see more flights delayed as the nation’s air traffic controllers work without pay during the federal government shutdown. The hold on planes taking off for LAX lasted an hour and 45 minutes and didn't appear to cause continued problems. The FAA said staffing shortages also delayed planes headed to Washington, Chicago and Newark, New Jersey on Sunday.
Boeing workers at three Midwest plants where military aircraft and weapons are developed have voted to reject the company’s latest contract offer and to continue a strike that started almost three months ago. The strike by about 3,200 machinists at the plants in the Missouri cities of St. Louis and St. Charles, and in Mascoutah, Illinois, is smaller in scale than a walkout last year by 33,000 Boeing workers who assemble commercial jetliners. The president of the International Association of Machinists says Sunday's outcome shows Boeing hasn't adequately addressed wages and retirement benefits. Boeing says Sunday's vote was close with 51% of union members opposing the revised offer.
The stunning indictment that led to the arrest of more than 30 people — including Miami Heat guard Terry Rozier and other NBA figures — has drawn new scrutiny of the booming business of sports betting in the U.S. The multibillion-dollar industry has made it easy for sports fans — and even some players — to wager on everything from the outcome of games to that of a single play with just a few taps of a cellphone. But regulating the rapidly-growing industry has proven to be a challenge. Professional sports leagues’ own role in promoting gambling has also raised eyebrows.
Tesla, the car company run by Elon Musk, reported Wednesday that it sold more vehicles in the past three months after boycotts hit hard earlier this year, but profits still fell sharply. Third-quarter earnings fell to $1.4 billion, from $2.2 billion a year earlier. Excluding charges, per share profit of 50 cents came in below analysts' estimate. Tesla shares fell 3.5% in after-hours trading. Musk said the company's robotaxi service, which is available in Austin, Texas, and San Francisco, will roll out to as many as 10 other metro areas by the end of the year.
