Calif Leftists misled bond investors
Josh Rosner of seekingalpha.com has a great piece (https://seekingalpha.com/article/4136231/-california-munis-misled-investors-bond-insurers-climate-risk?page=4) discussing leftist munis (San Francisco, Oakland, Santa Cruz etc) who are suing Exxon Mobil and 17 others for causing global warming, sea rise etc calamities to befall them in the future. The problem is that in doing that they are shooting themselves in the foot, because none of these ostensible 'risks' were disclosed in their bond manuals. Which, of course, kept their bond insurance rates lower and, de facto, defrauded the insurers. The chances of the leftists winning these tort suits are slim to none, but in the meantime, they may be liable for fraud. Exxon has already filed to depose these geniusses.
California would be wise to educate themselves regarding ExxonMobil Charitable Foundation. The foundation has a 'strategic focus supporting education with an emphasis on math and science in the U.S., promoting women as catalysts for economic development.' California is in dire need of economic education.
You are right, of course, but these people cannot see past their ideological blinders, unfortunately.