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The Latest: Oil companies dispute climate lawsuit claims

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  • Associate Press
Pictured:
  • FILE - In this Feb. 13, 2015 file photo, stacks and burn-off from the ExxonMobil refinery are seen at dusk in St. Bernard Parish, La. New York City officials say they will begin the process of dumping about $5 billion in pension fund investments in fossil fuel companies, including Exxon Mobil, because of environmental concerns. (AP Photo/Gerald Herbert, File)

NEW YORK (AP) — The Latest on New York City’s actions on oil investments, and lawsuit against oil companies over climate change (all times local):
2:30 p.m.
Some of the oil companies being sued by New York City over claims they contributed to global warming are disputing the allegation.
Mayor Bill de Blasio says the city will be seeking billions in the lawsuit to recoup money spent by the city for resiliency efforts related to climate change.
The defendants in the city’s federal lawsuit are BP, Chevron, ConocoPhillips, ExxonMobil and Royal Dutch Shell.
ExxonMobil spokesman Scott Silvestri says the company has made good faith attempts to address climate change. He says lawsuits don’t accomplish that goal. Shell’s spokesman echoed that sentiment.
The other companies either did not comment or did not immediately respond to a request for comment.
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11:55 a.m.
New York City is suing five major oil companies, claiming they have contributed to global warming.
Mayor Bill de Blasio says the city will be seeking billions in the lawsuit to recoup money spent by the city for resiliency efforts related to climate change.
The defendants in the city’s federal lawsuit are BP, Chevron, ConocoPhillips, Exxon Mobil and Royal Dutch Shell.
A BP spokesman declined comment. A Shell spokesman said climate change is a complex issue that should not be addressed by the courts. The other three did not immediately comment.
The lawsuit follows the city’s announcement that it plans to divest its pension funds from fossil fuel companies.
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12:20 a.m.
New York City officials are citing climate change as their motivation to join a growing number of entities divesting themselves of financial interest in fossil fuels.
Democratic Mayor Bill de Blasio (dih BLAH’-zee-oh) and Comptroller Scott Stringer are set to announce plans on Wednesday to divest the city’s five pension funds of roughly $5 billion in fossil fuel investments out of its total of $189 billion.
Clara Vondrich of the DivestInvest campaign says hundreds of institutional investors managing assets of over $5.5 trillion have taken their money out of fossil fuels.
The American Petroleum Institute has previously said the divestment movement is misguided.
Democratic New York Gov. Andrew Cuomo (KWOH’-moh) also plans to have the state pension funds begin to divest.

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After spending the last few years in television and radio, Tyler Moody comes to REALShreveport.com to head the sports’ department. An Elysian Fields, Texas and Shreveport native, Tyler has followed sports in the area his entire life. From a young age, his love for pure competition grew year after year. “Moody” attended high school in Shreveport at the athletic powerhouse that is Evangel Christian Academy. He was a starting pitcher and garnered multiple all-state accolades along with a 2009 state championship as an Eagle. He has taken the knowledge gained on the field and applied it to his career in sports. An avid fantasy sports player, Moody has become the go-to guy for fantasy talk and advice in the Ark-La-Tex. Now, he hopes to continue to grow REALShreveport.com into Shreveport’s go-to for area sports.

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