The brewing fight between Big Oil and SEC

The brewing fight between Big Oil and SEC

Welcome back to another Energy Source.

If you thought that, after the ExxonMobil activist investor win and a court ruling against Royal Dutch Shell, Big Oil would just roll over in the face of climate pressure, think again. Submissions to the US Securities and Exchange Commission on the topic of climate disclosures suggest the oil industry is gearing up for another fight. It's the topic of our first note today.

Our second is on utility-scale storage. Texas and California will see a huge increase in battery capacity over the coming months. Will the back-up power arrive quickly enough to ease the expected stresses on their rickety electricity systems as temperatures rise?

Don't miss the FT Commodities Global Summit over the next two days, where the theme asks if a new supercycle in commodity markets is under way.

Thanks for reading. “” Derek

Big Oil warns regulator not to 'stray beyond its authority'

As US regulators mull tougher climate disclosure requirements from industry, Big Oil is pushing back, cautioning officials against overstepping their jurisdiction. 

The Securities and Exchange Commission yesterday published a flood of submissions from investors, industry and stakeholders in response to a call for input on how it might update the way it regulates climate-related disclosures.

The