Exxon’s $20 Billion Fraud Lawsuit Continues
“No one I knew in the organization thought this was possible; the pressure to deliver on Woods’ promise to the market permeated the organization.”
oil and gas
Peak US Oil Production Looms as the Domestic Shale Boom Ends
It appears that the U.S. fracking boom is ending far earlier than many industry experts and CEOs predicted.
Bankers Eager to Continue Funding Oil and Gas
Comments from a recent energy industry conference reveal major financiers of fossil fuels view environmental and social investing concerns as a trend to “inoculate” against but not a long-term threat to the industry.
Fracking’s ‘New Religion’ Offers False Hope
After the shale oil and gas industry lost a half trillion dollars in what the Wall Street Journal recently called the “unprofitable American oil boom” and investors started fleeing, the U.S. shale industry is now telling investors that industry consolidation is the answer to its financial troubles — but this
Shale Oil Fraud Case Reveals Executives Ignore Their Own Engineers and Mislead Investors
In April, a judge ruled that a lawsuit filed by former investors in the shale oil company Alta Mesa could proceed. Their case alleges multiple instances of fraud and reveals that not only did engineers in the company warn executives that they were lying to investors about oil production estimates
How Third-Party Auditors Make Oil Industry Fraud Possible
The accounting companies hired by oil companies to evaluate their inflated financial claims are on the hook from investors frustrated by the lack of accountability.
SEC Finds Fracking Sand Company Misled Investors With Claims of ‘Game Changing’ Sand
Fracking sand company Fairmount Santrol had a very clever corporate slogan for being in the business of selling products for oil and gas wells: “Do Good, Do Well.”