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By Sabrina Kessler
Far-reaching allegations about how a climate-sinning American multinational could shamelessly lie to the public about its wrongdoing mobilized a small group of New York students on a cold November morning. They stood in front of New York's Supreme Court last week to follow the unprecedented lawsuit against ExxonMobil.
The case is not about the damage to the planet the energy giant has caused. Instead, ExxonMobil is being forced to answer allegations that it played down the consequences of climate change to consumers and investors for decades.
What looked like a clear victory for the Attorney General's Office, however, now threatens to turn into a damp squib. The prosecution quickly admitted it had failed to prove that the company deliberately deceived shareholders and a few days ago, Assistant Attorney General Jonathan Zweig dropped one of the main allegations — investor fraud.
The state of New York had wanted to prove that the Texas-based oil giant knowingly misled shareholders. ExxonMobil is said to have built a "long-standing fraudulent system" to cover up the true impact of climate change. All this to push up the stock price. Similar allegations were once made against the tobacco industry, which publicly denied the risk of cancer, even though it knew better. What followed were penalties in the billions.
ExxonMobil did not respond to a request from DW. The Group's website contains a statement from last month in which the company promised it would be exonerated in court: "The allegations of the New York Attorney General are false," it said.
The student protest is one of several held outside the New York Supreme Court during the trial.
Investors had been informed through regular announcements about how the company responds with climate-related risks, the company added. "The New York attorney general's case is misleading and deliberately misrepresents a process we use to ensure company investments take into account the impact of current and potential climate-related regulations."
However, this remaining lawsuit is not just against any company, but one built by the man once considered to be the richest American of all time. ExxonMobil's roots go back to John D. Rockefeller, the U.S. oil magnate who built one of the country's first oil refineries in 1863. His company, the Standard Oil Company, grew so powerful that within a few decades the U.S. Supreme Court ordered it to be broken up into more than 30 companies, two of which grew into today's ExxonMobil.
This company, in turn, rebuilt itself into one of the largest in the world: the oil multinational recorded sales of $279 billion (€253 billion) last year alone. By way of comparison, Apple achieved $266 billion in 2018.
Former U.S. Secretary of State Rex Tillerson previously had a decade-long tenure as Exxon Mobil's chair and CEO.
Impact Known for Years
Success does, however, have its negatives. ExxonMobil is one of the largest global climate sinners. Not only are forests being cleared and waters and soils polluted to unearth more than 4 million barrels a day of black gold, the oil giant also contributes almost 2% to global carbon dioxide (CO2) emissions, according to calculations from the UK-based Carbon Disclosure Project. Over the last 50 years, it has created 42 billion tons of CO2.
The oil companies know only too well how much they endanger the climate. Exxon Mobil, for example, is said to have known since the 1970s about the impact the oil business was having on the planet. However, these findings never reached the outside world. "Exxon Mobil is a climate criminal," alleges 350.org, a nonprofit environmental organization that supports students in their protests.
Despite this, the state of New York has not yet been able to prove ExxonMobil's culpability. Not a single shareholder who testified in court claimed to have been deceived. The prosecution now has to prove that the oil giant was wrong to assure its investors that it was adequately preparing its own business for a decarbonized future. A ruling is expected in the coming weeks.
ExxonMobil's biggest challenge, however, is a different one. A glance at Wall Street data reveals that the energy sector is increasingly losing its standing. Today, the industry represents less than 5% of the total market value of all companies indexed in the S&P 500. Five years ago, it was still over 15%.
Oil Price Remains Low
ExxonMobil is struggling with its greed for profits. Since its all-time high five years ago, the stock price has collapsed by a third. It has long been clear that coal, gas and oil can no longer earn as much as they used to. Coal, for example, is increasingly being replaced by natural gas, which is much cheaper. Oil is also being fractured in such quantities that the market is literally flooded. Not even the military attacks on Saudi Arabia's oil fields in September caused a lasting rise in the price of oil. It has lost 20% since January.
Exxon Mobil has the 14th-largest oil and gas reserves and is the largest refiner in the world.
For analysts, one thing is clear: ExxonMobil needs new ways to revive itself. "The Stone Age didn't end because the stones ran out," analyst Stewart Glickman of CFRA Research told DW. In other words, it will not be the lack of oil that will put a spoke in the wheel for the oil giants, but the lack of profitability. Competitors like Royal Dutch Shell have long been experimenting with renewable energies in order to do justice to the zeitgeist. ExxonMobil is years behind.
The company's future strategy is still heavily reliant on fossil fuels. This includes the production of shale oil (fracking) in the West as well as natural gas plants in Papua New Guinea, oil wells in South American Guyana and the development of new fields in Brazil and Mozambique.
The Group intends to invest $230 billion in these projects in the coming years. However, only a fraction of this is for environmentally friendly technologies. The oil giant has committed just $10 billion to these types of projects — in the last twenty years.
Reposted with permission from DW.
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By Kristeen Cherney
Skin inflammation, which includes swelling and redness, occurs as an immune system reaction. While redness and swelling can develop for a variety of reasons, rashes and burns are perhaps the most common symptoms. More severe skin inflammation can require medications, but sometimes mild rashes may be aided with home remedies like aloe vera.
When Aloe Vera for Redness May Treat Irritation and Inflammation<p>Aloe vera has anti-inflammatory properties that may help <a href="https://www.healthline.com/health/home-remedies-for-rashes" target="_blank">soothe skin rashes</a>. As a bonus, aloe is also thought to have antimicrobial capabilities, which may in turn help to prevent infections. Additionally, aloe vera gel is known for its ability to help moisturize your skin without leaving any residue that heavy creams sometimes can.</p><p>While aloe vera can't cure any skin disease or treat every single instance of skin inflammation, here are the instances where it could possibly help:</p><h3>Burns</h3><p>Aloe vera gel is perhaps best known for its ability to help treat burns. If you've ever had a <a href="https://www.healthline.com/health/skin/aloe-vera-for-sunburn" target="_blank">sunburn</a>, you may have used an OTC gel to help reduce itchiness, redness, and overall irritation. The same concept may apply to mild heat or chemical burns.</p><p>To use aloe vera for burn treatment, apply it liberally to the affected area multiple times per day. You may know it's time to apply more if your skin starts feeling hot. Aloe vera is safe to use until symptoms of your burn start to improve after a day or two.</p><p>While aloe vera may provide temporary burn relief along with a cooling effect, it won't reverse any damage that may have been done to your skin. It also isn't an appropriate treatment for <a href="https://www.healthline.com/health/burns" target="_blank">more severe burns</a>, which can include symptoms such as boils, blisters, and peeling skin.</p>
When Aloe May Worsen Symptoms<p>Aloe can help alleviate symptoms of <a href="https://www.healthline.com/health/rashes" target="_blank">skin rashes</a> that are mild in nature. However, it's not considered an effective treatment for more serious inflammatory skin conditions. Aloe vera may also—in rare cases—cause skin inflammation. Don't use aloe vera if you have an allergy to it.</p><h3>Can aloe vera cause a skin rash?</h3><p>While considered safe for most people, there is a risk of an allergic reaction to aloe vera. In such cases, you might see signs of <a href="https://www.healthline.com/health/contact-dermatitis" target="_blank">contact dermatitis</a>, which can develop when your skin comes in contact with an irritating or allergenic substance. Symptoms may include:</p><ul><li>redness</li><li>hives</li><li>itching</li><li>skin rash</li></ul><p><span></span>If you've never used aloe vera before, you should conduct a <a href="https://www.healthline.com/health/allergy-testing#testing" target="_blank">patch test</a> to make sure you're not allergic. This involves applying the gel to a non-conspicuous area of skin, such as the inside of your elbow. The downside is you have to wait at least 24 hours to see if any irritation develops. If no such reactions occur, then it should be safe to use the product on your skin rashes.</p>
Can Aloe Vera Make Eczema Worse?<p>Aloe vera won't likely make eczema worse unless you're allergic to it. The greater risk is relying on aloe for eczema treatment when it may not actually work. Aloe vera gel could temporarily alleviate feelings of burning, but it can't treat the underlying causes of your eczema rashes.</p><p>Sometimes eczema rashes may bleed due to scratching. You should not apply aloe to broken skin, as this can increase burning sensations.</p>
When to See a Doctor<p>Aloe vera can help soothe certain cases of skin inflammation, but most effects are temporary at best. If your symptoms last longer than a few days, get progressively worse, or spread throughout your entire body, then it's time to see a doctor to evaluate your skin rash.</p><p>A doctor may also refer you to a dermatologist, who specializes in the treatment of skin disorders. They can help diagnose the cause of your rashes and help treat the underlying source of inflammation, rather than the symptoms alone.</p><p>You should also see a doctor if you experience any negative reactions after using aloe gel. This could indicate an allergy to aloe vera. If you suspect an allergic reaction, stop using aloe right away.</p><p><em>Never </em>take aloe vera gel or cream, aloe latex, or whole-leaf extract orally.</p><p>Seek immediate medical care if you suspect your rash <a href="https://www.healthline.com/health/skin-infection" target="_blank">is infected</a>. Signs may include fever, blisters, and pus-filled lesions in your rash. Extremely painful rashes also require medical attention.</p>
Takeaway<p>Due to its ability to soothe inflammation and wounds, aloe vera can be a temporary solution to treat the symptoms of a mild burn or skin rash. However, aloe vera isn't a viable treatment option for more severe burns or severe inflammatory skin conditions, such as eczema and rosacea. Stronger medications are needed for more severe skin rashes.</p><p>While rare, aloe vera may also cause an allergic reaction in some people. Always conduct a skin patch test for use, and discontinue any aloe gel products if you notice any new rashes.</p>
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