'Chevron should not be doing $75 billion in stock buybacks while price gouging American families and accelerating the climate crisis,' said one critic.
Climate and consumer advocates reacted angrily Thursday to Chevron'sof a planned $75 billion stock buyback amid record profits and a worsening planetary emergency exacerbated by the continued extraction and burning of fossil fuels.
California-based Chevron said Wednesday it would start buying back shares on April 1, and that the new repurchase will be three times the size of the last one, which began in 2019."Companies like Chevron are doing absolutely massive stock buybacks after price gouging working families for over a year,"
Pennsylvania state Rep. Malcolm Kenyatta ."Then these same companies will come back hat-in-hand begging for more tax breaks and tax cuts."tweeted ,"I kept saying gas price increases were straight-up price gouging and not indicative of the price of oil, and here's all the proof I was right." ;�ter decimating Indigenous groups in the Amazon and evading a $9.5 billion pollution judgement in Ecuador, @Chevron is now reporting a $75 billion buyback of its own stock. How the rich get richer while the poor die.\n\nThis company should lose its license to operate.;”
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