Exxon’s Big Bet on Oil Sands a Heavy Weight To Carry


Tar sands account for 35 percent of the oil giant’s holdings, up from 17 percent a decade ago, and may come under scrutiny in SEC’s probe of its reserve accounting. By Nicholas Kusnetz State and federal investigators are zeroing in on ExxonMobil’s accounting practices as part of two independent probes, asking whether the energy giant might have misled investors about the value of its assets. Increasingly, those assets are made up of Canadian tar sands oil, among the world’s most expensive and dirtiest forms of crude oil. See Also: SEC Involvement Sharpens #ExxonKnew Focus on What Its Accountants Knew New York Attorney General Subpoenas Exxon on Climate Research Mobil’s Chief Executive Warned of CO2 From Oil Sands Fuels in 1982 Exxon: The Road Not Taken Canada Promises Emissions Cuts, but Tar Sands Still Full Speed Ahead read more


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