senators currently full time oil lobbyist advocate for a carbon tax when one of their main clients exxon also decides to publicly and financially support this effort for one million dollars it deserves attention so yes exxon which has long championed and finance all the think tanks that endorse climate change denial well they are now behind a carbon tax and through these two senators former senators who are now lobbyists so former senators trent lott republican from mississippi and john breaux from louisiana democrat from louisiana both with substantial ties to the u.s. energy industry recently formed a political action committee in. americans for carbon dividends this group now advocates for a carbon tax the actual proposal was released by a related organization the climate leadership council c l c which is headed by former secretary of state republican grandy james a baker the third oh really james baker this is the third he still alive and he's still with us and he still he's now apparently pushing for a they americans for carbon dividends give me three sticks as he's known yes tell t

let's get even deeper into exxon.bara underwood sued exxon mobil, alleging emails showed it had been lying to investors for years about how much climate change will affect its business. for more, let's bring in eric roston. good to see you. what were the charges? eric: the charges filed under new york state's martin act said basically securities fraud, that exxon mobil had two separate books. they had a public facing carbon price, which is an estimate of how much climate change will cost them in the long haul. but then for internal planning for investment and projects, they had a much smaller estimate of what climate change would cost. sometimes they used no number. that's what new york state alleges. alix: exxon came out and responded vigorously saying it was unfounded. we have seen these type of lawsuits over the last couple of years. why? eric: part of the reason is frustration among environmentalists and the left with the slowness of the u.s. federal government and states to address climate policy. even for some a

let's dig deeper into exxon.ttorney general barbara underwood sued the big oil company alleging emails show that it had been lying to investors for years. about how much climate change will affect its business. let's bring in bloomberg sustainability editor. what were the charges? >> the charges which were filed suggest security fraud. exxon mobil basically had two sets of books. they had a public carbon price, which is an estimate of how much climate change is going to cost them in the long haul, but for actual internal planning, and investment in projects and they had a much smaller number. a much smaller estimate of what climate change :00 -- will cost. that is what the united states alleges. >> vigorously saying it was unfounded. we have seen this type of lawsuits come under -- come a much higher over the last couple of years. why? >> part of the reason is frustration among environmentalists with the slowness of the u.s. federal government in states to address climate policy. even for some activists on the le

and here exxon mobil is saying just price carbon address the accident ality and get rid of regulations guy republicans are attacking this is a mystery to me sorry we don't have time for more we'll bring you back together and dogs and cats will be one thank you conservative t.v. radio host steve malzberg and tyson slocum director of public citizens energy program thanks for. thanks for being with us take care. of americans a lot of jobs. needed to. make some money twenty five thousand dollars as a teacher fifty thousand dollars a year truck so i chose to drive truck people who rushed to a small town in north dakota was an unemployment rate of zero percent like gold rush is very very similar to. this beautiful story with. a lot of people have left here i don't know too many people who just slow down so much they lost their jobs that laid off the american dream is changing that's not what it used to be. and it's a tough reality to. have to repeat it denials the saudis are now expected to change their story on the fate to. be the victim of torture that went too far donald trump has express

and here exxon mobil is saying just price carbon address the accident ality and get rid of regulations you know i republicans are attacking this is a mystery to me sorry we don't have time for more we'll bring you back together and dogs and cats will be one thank you conservative t.v. radio host steve malzberg and tyson slocum director of public citizens energy program thanks for. thanks for being with us take care. what hopes and. put themselves on the line to get accepted or rejected. so when you want to be president. or somehow want to. have to go right to cross the sea level before three in the morning can't be good. i'm interested always in the waters in the. question. and your own pal not coming off the plane on time to time coldplay enough. to know. why you. need. him from put in there is a trade in young girls sold into an underground six in the street sometimes but the people who trust the most. obama codified the worst tendencies of wall street to institutionalize the club doctor say the journal blind eye to the excesses of the really though the rats on on on financed in amer

and here exxon mobil is saying just price carbon address the accident ality and get rid of regulations you know i republicans are attacking this is a mystery to me sorry we don't have time for more we'll bring you back together and dogs and cats will be one thank you conservative t.v. radio host steve malzberg and tyson slocum director of public citizens energy program thanks for. thanks for being with us take care. you know world of big. lot and conspiracies it's time to wake up to dig deeper to hit the stories that mainstream media refuses to tell more than ever we need to be smarter we need to stop slamming the door. and shouting past each other it's time for critical thinking it's time to fight for the middle for the truth the time is now we're watching closely watching the hawks. and your. own pal. coming up that. i am told. in some plan there is a trade in young girls sold into an underground six in the street sometimes but the people they trust the most. others on. the. news in the world. number one. total around us. a lot of money we didn't know. oh. oh he says this move for yo

and here exxon mobil is saying just price carbon address the accident ality and get rid of regulations you know i republicans are attacking this is a mystery to me sorry we don't have time for more we'll bring you back together and dogs and cats will be one thank you conservative t.v. radio host steve malzberg and tyson slocum director of public citizens energy program thanks for. thanks for being with us take care. and your own pal not coming off the plane on time to time coldplay enough. to know. why you will be. in film come in there is a trade in young girls sold into an underground sex in the street sometimes but the people who trust the most. and. make. obama codified the worst honesty's of wall street institutionalized the kleptocracy turn a blind eye to the excesses of the really the the rats on on on financed in america who are pilfering with impunity and you know so this is draining the swamp unfortunately i must say that it does mean that interest rates are going to start going higher and this is for the first time in thirty two years the bond market bull rally we've had thi

and here exxon mobil is saying just price carbon address the accident ality and get rid of regulations you know i republicans are attacking this is a mystery to me sorry we don't have time for more we'll bring you back together and dogs and cats will be one i thank you conservative t.v. and radio host steve malzberg and tyson slocum director of public citizens energy program thanks for. thanks for being with us take care. and your own pal. i'm not that. type of time to all put enough. in film in there is a trade in young girls sold into an underground six in the street sometimes but the people they trust the most. you cannot operate as united nations this is not just about un d.p. world health organization and in fact other international organizations like the international committee of the red cross you cannot work in a place like gaza with pragmatic cooperation with the local authorities which are hamas in this case here on or has been for most of the last few years. it was government official of president i don't have faith in the system. i've got it's up to the broken system design

welcome back the attorney general of new york has sued exxon corp an alleged exxon misled investors on the threat of climate change to corporate profit the suit brought under the power of new york state's martin adequate alleges that exxon management including former trump secretary of state rex tillerson ran two sets of accounting figures one for investors and one for corporate management on financial risks to the company from climate change caused by the use of exxon's products the suits resulted from an investigation started by the new york a.g. in twenty fifteen into what oil companies knew and when with regard to climate change this current exchange commission started a similar probe at the time but closed it without taking action exxon spell oil giants chevron british petroleum and royal dutch shell also face lawsuits over climate change caused by use of their product. officials in wales have made a historic decision to leave coal c o l in the ground in the wake of the united nations warning we told you about last week that humanity has twelve years to prevent the most catastroph

it claims that exxon -- exxon mobil says that it is based on a meritless investigation. >> thank you very much for that. stephen carroll at the business update. time now for the press review. a look at what is making international headlines. i am joined onset by solange. across europe, there has been an increasing amount of attention on weapons contracts with saudi arabia since the murder of jamal khashoggi. in france, the pressure has been mounting for the government to take a stand. how thepaper looks at french government is maneuvering the minefield. since germany suspended its own contracts. the front page article noted that -- many french mps are saying france should do so as well. that they should cancel the contract. one of them says that they do not sell arms like they sell baguettes. you have macron explaining to the crown prince that he cannot sell weapons that are in his shopping cart, but he can sell power tools. >> france is not the only nation feeling the heat to suspend its arms deals. takes usnancial post through what it calls the rising scruples in many different eur

chevron is up 6% exxon is up 5% how significant of a lag are you talking about? >> look, royal dutch is a little bit more than that that's the one i like, more than chevron and texaco when i put all four of these together, not ready to put conoco in there. when you trade these, when you enter a position, i feel this is a case where valuation does matter do you have to make a call on oil but the reason i chose royal dutch over chevron it has a meaningful higher yield. about the same price to earnings multiple in the long run that will matter this is a case where valuation does matter. >> when the auto stocks were lagging, if you can't have a good auto stock -- >> royal dutch is doing good >> you can't have exxon or chevron do well in a great environment for oil prices, what are you waiting for? >> scott, you have to know what the stocks are designed to do. it's not just price appreciation the yield matters a lot here and to steph's point, these are not the highest oil plays. you get a transocean where you have to have a lot of courage to do it, you'll get your bet

exxon mobil kmerch and anadarco have operators that have evacuated rigs tip. both d cngtde and natural gas prices settled highers in the futures markets today. >> ashat storm makes its way to land, retailers down there prepare for the worst. and they're working hard to get splis to where they need to be. courtney raying isn't in panama city, florida, for us. >> reporter: retailers are ours beforeitical hurricane michael hits the pan handle flooding logistics to get truck loads of supplies stores. this storm expected to produce high winds, 12-foot storm surge and a foot of rain. supplies like replywood, generate he is, gas can was tarps, chain saws, batteries and more are critical. even as mandatory evacuation ders went into effect, many residents are staying through the storms. lining up for supplies starting this morning. >> i need a new saw blade and batteries within making an extension the order for generate. >> i'm shopping for zoned sand to putn front of the door. >> we have no jerner. >> home depot deployed 200 shipments. >> we called atlanta, atlanta se

third news announcer: more than 11 million gallons of crude oil poured into the sea when tanker "exxon valdez," bound for... joanna: most people, when they think about the environment, they worry about the big accidents and forget that anywhere from a third to half of the oil that's in the ocean didn't come from these accidents. it came from the intentional release of oil by ships. john: oil is toxic to organisms and it can be toxic in several ways. this is a gross image. you know, when you coat something wit oil like that, it's going to die. that's not what we're concecerned with. we are concerned with what happens with those lesser concentrations that you can't see may haveve very big effectcs on deveveloping organisms. that's the coconcern thatat we e faced with. this is a a picture of pink saln embryos, and it was exposed to a high concentration of oil. and you can see the expansion of this area around the yolk sack. the toxins i in oil, as you see here, can cause many of the same kinds of defectsts in organisms as are caused by oftentimes considered to be m more serious chemicals

the optimistic one is the one this morning, the wall street journal announced exxon is putting up to $1 million to promote tar bon -- carbon tax. i don't think it happened because people threatened them but it's a commitment to fight climate change which represents a break from their traditional plan and republican orthodoxy. i think there's good thing happening out there that are happening without divestment and i don't think will be helped by divestment. that was the update of our data is everything we've seen happen in the last six months would reinforce the view that or trarl selling your energy -- that arbitrarily selling the energy stocks would hurt thet plan. on the staff memo we're supportive of the first five items you've undertaken and a don't want to underestimate the value you have by hiring a director of e.s.g. every company i've ever worked in when they have a problem they put together a committee and the committee comes up with brilliant ideas to fix it but if you don't say to one person your job is to deal with this, it never gets done so you have a step no one has do

new yoyork is suing exxon mobil for deceiving shareholders over the financial risks of climate change. the lawsuit charges that exxon misled investors over the value of its oil reserves, failing to account for future regulations on carbon dioxide emissions. the suit comes after a three-year investigation by the new york attorney general's office. in 2015, a damning report by inside climate news and the los angeles times revealed that exxon knew that fossil fuels contributed to climate change as early as the 1970's, but did not take any a action, even as it covered up the science. in environmental news, european lawmakers hahave voted t to ban single-use plastics in an effort to reduce ocean pollution. the ban includes plastic cutlery, straws, and disposable plates and would take effect starting in 2021. this is eu lawmaker frederique ries. >> what are the objects we have most often found on the beaches? single use plastic. secondly, are there alternatives that are accessible? but that is the case, we will change. it is killing our oceans, killing animals. at the end of the day, it end

their risk the risk of the extinction event that they're perpetuating that risk adjusted price for exxon mobil stock is zero their risk adjusted price for monsanto now owned by bear is zero the risk adjusted price for apple and microsoft is only going to take a break we'll be right back after this don't go away. along . so when you want to be close. to going for which you won't. be. interested in the water. there should. join me every day on the alex i'm unsure when i'll be speaking to a guest of the world of politics sports business i'm show business i'll see you then. it's easy to find and then in me where there followed a man swear their. bangs much more difficulties explaining all things are once you stop telling people look you my hate the banks by where do you put your money ah you put them in the bank and what happens to the broncos zonda don't see your money anymore these kind of reasonings will be much more i am full to make people on the stand a video dynamics there in why people auctions on consequences of price is that of post nobody wants to. make this manufactured dream sen

things for years and we you know i thought when i was back in the day be long before you were born exxon valdez that was going to be the worst thing and then we saw deepwater horizon but then i wake up and there is this breaking news today about this oil spill that's been going on since two thousand and four what do we know that's correct not many people have heard of this spill and the biggest spill until now have been the deepwater horizon exxon valdez like you said and taylor energy spill is a largely unknown outside of louisiana because of the company's efforts to keep it a secret and the reason that they try to keep it secret is because they said it was they were trying to protect their reputation and their proper terry information but as it turns out taylor energy has been quietly leaking oil off the coast of louisiana for fourteen years now and now according to a new report by the washington post it threatens to overtake the deepwater horizon spill as the biggest offshore disaster and now it estimates that about ten thousand to thirty thousand gallons of oil will is leaking now in

adjust for racism so it's racism adjusted prices need to be racism adjusted just like the price for exxon mobil stock needs to be adjusted for their risk the risk of the extinction event that they are perpetuating that risk adjusted price for exxon mobil stock is zero their risk adjusted price for monsanto now owned by bear is zero the risk adjusted price for apple and microsoft is zero well we're going to take a break we'll be right back after this don't go away. it's easy to find and then. to follow where there. is much more difficult please explain how things are once you stop telling. you my hate to buy when do you put your money. you put them in the bank and what happens to. your money anymore these kind of reasonings would be much more a handful to make people understand of dynamics there and why people locked consequences of prices that have post nobody wants. welcome back to the kaiser report on concerts i'm not sure frank who i've just met your welcome to the kaiser report thank you so we're here at the springs in palm springs is attracting an international. diverse crowd technol

the way that exxon did. jon: no one can hear you when you both talk at once.head, representative, then you can rebuttal. mr. diehl: when you have companies with 20 employees or less, you have business owners and make sure they pay their employees before they pay themselves. i worked for a company out of new bedford. it was fourth-generation running the company now. they made sure they took less than their employees if the economy it was not good. in bad years, they make less. in good years, maybe they make more. they are the ones putting food on the table for their employees. making sure they are paid first. that is 90% of our businesses out there. sen. warren: that's the problem. the tax cut was not about 90% of our businesses. it was about the giant businesses. it was about the billionaires. those are the ones who have walked off with the big money. and they have left everyone else behind. employees' wages have not gone up because of this tax cut. in fact, what has happened because of this tax cut is that now there is less money for the things we need. repub

their risk the risk of the extinction event that they're perpetuating that risk adjusted price for exxon mobil stock is zero their risk adjusted price for monsanto now owned by bear is the risk adjusted price for apple and microsoft is ciro well we're going to take a break we'll be right back after this don't go away. it's easy to find an enemy. to follow where they're. much more difficult to use explain how things are once you stop telling. you my hate the banks by where do you put your money. put them in the bank and what happens if the bank goes on don't see your money anymore these kind of reasonings would be much more a handful to make people understand dynamics there and why people locked consequences of price is that of post nobody wants to. it's been too many times when i'm seeing you know dog. city's hospitals. civilians being terrorists you know attacking civilians it's been terrible really i'm more hopeful now than i was a few months back and the deal was a glimmer of hope in in in all of this. welcome back to the kaiser report on time out of turn sure frank who i just met you

i gave that interview after their party chairman of exxon the go round wrote their piece in the front for the argument a newspaper in which he did liberally used national socialist phrases and also their type of argumentation when he says the a.f.d. is the thorn in the side of a system which has to be vanquished he's crossing the boundary of democracy in my opinion this should trigger the strongest resistance for what. you say the party is on electable and trying to ostracize them which may well be your personal position doesn't this exclusion strengthen those who already feel that nobody listens to them. this could be very good if their problems are not heard about that i think we can talk about the problems that make people vote for a party like the f.t. it's not possible to talk about the problems however if they are exploited if aig news is being disseminated if rape reports are being made up if stories are invented to incite others. through what however to me seems worse than the pure fixation on the refugee issue is that they're turning problems into religious issues. the islamo

cruz, does exxon mobil have it wrong here? sen.ruz: it is clear the congressman's pollsters have told him to come of the attack. if he was to call me a liar, that is fine. if you want to see the vote he cast for a $10 a barrel tax on oil, go to our website, and we will put up a link to that vote against the people of texas. if you work in energy, in oil or gas, the congressman's record on this is extreme. he has also voted for aggressive regulations on fracking and exporting liquefied natural gas. he is a prominent supporter of president obama's paris climate deal, which have killed thousands of jobs in texas. that is not good for texas, and is an example of over and over again, the congressman size with liberal extremists on a national level, instead with the people in texas and jobs of texas. moderator: that is time. sen. cruz: texas leads and energy across the board. moderator: this question is about immigration policy. we know your position and dreamers, and we know that you are adamantly against extending the existing border f

if you wrote a bill on the carbon tax, 24% which is less than the exxon bill which is $24. both parties voted to ge get a n balance. >> three days before you introduced the bill, paul ryan rand on the floor of the house saying under no circumstances will the house of representatives ever even consider the concept of the carbon tax and by the way, $24 per ton is far less than exxon mobil build utheexxon mobil bui0 tax per ton. we have to have a change of leadership. the secret is not just a label and photo op trips to see. the secret is as i said in my opening statement bipartisan fact gathering. the stories are real people from ben and sprayed by agent orange and have problems that are not curable. examine the facts and the science and from that will come bipartisan consensus. this is where we bring people together. >> mr. wallace. this is an environmental trade question together. the questioner states recently renegotiated nafta in this person's opinion falls short of protecting our environment, job outsourcing and human rights. will you commit to seeing it fixed to ensure

exxon, time to buy it?s, montana, for row. >> i wouldn't buy ex-xon at this point, but chevron a better-run company exxon is a little too much -- >> shane, in boston, e-trade, it's 47, is somebody going to buy it >> that part, i can't tell shane whether or not anybody's going to buy it. i will say, judge, yeah, over past week, you got td ameritrade and e-trade, both moving up by between 2% and 4%. against the negative market that we had last week and with those interest rates coming down i like it here. >> okay. as a reminder, please send your questions, keep them coming. go to cnbc.com/halftime. nus.l step away for a quick two mite we'll come back and do final trades air velocity is reading at fifteen fpm. why would you need to learn every detail about a company? firmness... nine. it's how ibm services helps retailers around the world drive growth and save millions. he's very into this. yeah. is that the standard amount? yes. feels good. when your partners are obsessed with business and technology, you can

director a lot of work in engaging with companies like exxon who have a terrible record on engagement and i think the source you cite seems to have a broad engagement with climate change policy and have undermined climate action and to the idea that divestment and i'd refer you to the oxford smith study that stigmatization of the companies and divestment. >> any other members of the public that would like to address the commission regarding this item? >> herbert whiner. this is my own personal position that doesn't represent any organization. one thing i believe in climate change. and as a city retiree i'm also concerned about the portfolio and a balance has to be struck. one problem i have with outside groups testifying who are not members of the retirement system, their pensions are not at stake. when you categorically want diversement how realistic is is? i think it's toxic and polluted and ecologically unsound for the portfolio. and what stocks would you want to get rid of and how would you manage the portfolio. come up with an alternate portfolio and run it by the board and see h

exxon allegedly downplayed the potential costs of new greenhouse gas regulations, despite assuring investorspany has pledged to fight the allegations in court. shares of cathay pacific airways dropped more than 6% today to a nine—year low after it said data of about 9.4 million passengers had been accessed without authorisation. cathay says that in addition to 860,000 passport numbers and about 245,000 hong kong identity card numbers, the hackers accessed 403 expired credit card numbers. that is a pretty serious reach of data at cathay pacific. that is business briefing. the equality and human rights commission has warned that britain is in danger of becoming a two—speed society that's hard to fix. its latest report to parliament on discrimination says there's been some progress, but also greater struggles for the disabled and ethnic minorites. mark easton has the details. the fight against what she called burning injustices was the prime minister's top priority when she took office. >> we will make britain a country that works not for a privileged few but for every one of us. battle will be