Tillerson: Exxon tried to understand climate change effects

JENNIFER PELTZ Associated Press NEW YORK (AP) — As Exxon faced the prospect of new climate regulations, the energy giant's leaders sought a full understanding of how they would affect the bottom line, former CEO and ex-Secretary of State Rex Tillerson told a court Wednesday in a securities fraud lawsuit brought by the New York attorney general's office. Democrat Letitia James' office says ExxonMobil Corp. deceived investors about its future profitability. The Texas energy giant says it did nothing wrong and indeed is an industry leader in gauging potential climate costs. The lawsuit claims Exxon essentially kept two sets of books — telling the public that it was taking into account the costs of potential future climate regulations, while underestimating those costs behind the scen
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