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Senate Budget Committee chair launches inquiry after FTC probe purported ‘Big Oil’ executive attempted to collude with OPEC to manipulate petroleum market.
The news comes two days after Chevron devalued itself by between $3.5 billion and $4 billion in its securities filing.
The new measure now requires committee oversight of petroleum markets using data collection to identify potential market manipulations.
Major international oil companies are being sued over climate change, even though all have websites espousing the need to “transition” to carbon-free energy.
Mr. Newsom called out fossil fuel companies for their alleged “deceit and denial,” during a speech at the U.N. Climate Ambition Summit in New York.
The state of California is suing major oil companies for allegedly downplaying the risks posed by fossil fuels.
As the Paris climate deal nears implementation, the possibilities for corporate subterfuge are endless. But the real problem may be our own lifestyles.
The big plunge in crude prices is taking a toll on Big Oil.
