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The Supreme Court ruled that regulators are kneecapped
The US Supreme Court on Friday overturned a lower court’s ruling that had allowed federal agencies to interpret ambiguous language in legislation. The lower court had sided with a farmer who argued that the Chevron deference law, which allows courts to defer to federal agencies when there are disputes over how to interpret ambiguous language,…
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Is this the beginning of the end for Big Oil’s windfall?
The US S&P 500 lost 20% of its value in 2019, marking the worst year for equities since 2008 when it lost 25% of its value. Consumer staples and consumer discretionary stocks posted their best relative performances to the S&P 500 this year. Chevron reported a record profit of $7.9 billion in the fourth quarter,…
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The goal was to deflate the carbon bomb
The world’s five largest oil and gas firms handed over $100 billion to shareholders in 2022, a new record, according to a study by the Financial Times. The companies, including ExxonMobil, Chevron and Royal Dutch Shell, are the world’s biggest private sector oil and gas companies. The firms spent 40% of their profits on renewable…