SCOTUS looks skeptical of Big Oil's bid to kill climate change lawsuits. That keeps the legal overhang alive — no cash-flow hit today, but it supports a liability discount on the sector and keeps head

What happened: Supreme Court justices questioned the oil industry's bid to shut down climate change lawsuits. The justices debated whether local governments can sue energy giants for harms allegedly caused by extreme weather events tied to fossil fuel burning. Why it matters: Justices across the ideological spectrum noted state-based lawsuits are routinely used against other conduct with widespread effects, such as tobacco marketing or asbestos manufacturing. Some expressed concern about opening the floodgates to cases against any company contributing to greenhouse gas emissions.

Supreme Court justices questioned the oil industry's bid to shut down climate change lawsuits. The justices debated whether local governments can sue energy giants for harms allegedly caused by extreme weather events tied to fossil fuel burning.

Justices across the ideological spectrum noted state-based lawsuits are routinely used against other conduct with widespread effects, such as tobacco marketing or asbestos manufacturing. Some expressed concern about opening the floodgates to cases against any company contributing to greenhouse gas emissions.