All posts tagged "Chevron"

An environmentalist Democratic congressman acknowledged that his wife purchased — then quickly dumped — nearly 100 stocks in various oil, energy, tobacco, defense and other companies, blaming a new investment firm for going on an erroneous stock shopping spree.

Rep. Greg Stanton (D-AZ) reported that Nicole Stanton’s 94 stock purchases included shares in fossil fuel giants Chevron, ExxonMobil and ConocoPhillips; power utility NextEra Energy; tobacco company Philip Morris International; transportation companies Union Pacific and Tesla and communications technology company and defense contractor Qualcomm, to name a few.

Stanton explained the apparent snafu in a Nov. 9 disclosure to Congress: “In Sept. 2023, my wife started with a new investment firm for her assets, and this investment firm was unaware of our policy against owning individual stocks. On Sept. 26, the new investment firm purchased stock mimicking the S&P 500. I learned of the purchase of stock on Oct. 21, and immediately on the next business day (Oct. 23) requested the stocks be divested. The new investment firm sold the stock and instead invested in Exchange Traded Funds.”...

This story was originally published by Grist. Sign up for Grist’s weekly newsletter here.

The flood-prone city of Hoboken, New Jersey, sued Exxon, Chevron, and other oil companies three years ago, hoping to put them on trial for deceiving the public. Like other lawsuits set in motion by “Exxon Knew” investigations, Hoboken made the case that they breached state consumer protection laws by hiding the risks of burning fossil fuels.

But the lawsuit recently took a novel twist. Hoboken’s lawyers amended the complaint in late April, alleging that Big Oil had violated the state’s Racketeer Influenced and Corrupt Organizations Act, known as RICO, as first reported by the accountability site ExxonKnews. New Jersey’s statute is modeled after a federal RICO law passed in 1970 designed to take down organized crime. These racketeering lawsuits aren’t just for the Mafia anymore; they’ve also been successful against tobacco companies, such as Philip Morris, and pharmaceutical executives tied to the opioid epidemic....

Rep. Marjorie Taylor Greene (R-GA) made a personal bet on Donald Trump’s Truth Social platform — and is losing bigly.

The value of Greene’s class A stock in Digital World Acquisition Corp., a special purpose acquisition company, or SPAC, that’s supposed to merge with Truth Social, had cratered in recent weeks amid significant corporate turmoil.

Digital World Acquisition Corp. this week ousted its chief executive officer, Patrick Orlando. Federal prosecutors are investigating Trump Media, the current owner of Truth Social, to determine whether it violated money laundering laws, The Guardian reported. And Trump himself faces a potential indictment related to hush money payments to adult film actress Stormy Daniels, with whom Trump allegedly had an affair....

US stocks opened sharply lower Friday amid persistent worries over emerging market economies and a handful of earnings disappointments by US companies.

An Ecuadoran court upheld a ruling that US oil giant Chevron was liable for environmental damage in its Amazon basin region by sister company Texaco, but ordered it to pay a reduced $9.51 billion.

Romanian police clashed with villagers on Wednesday as they tried in vain to force them off a field they have occupied for a third day to prevent U.S. energy giant Chevron from drilling for shale gas.