Chevron faces pollution concerns over Venezuelan oil influx amid global oil price spikes driven by Middle East conflicts.
NatWest has relaxed its fossil fuel financing restrictions, removing bans on renewing oil and gas loans and dealings with non-transition aligned companies. The move reflects shifting priorities amid energy security concerns, despite criticism from sustainability advocates. The bank aims to halve its climate impact by 2030.
Residents near Pascagoula, Mississippi, worry that increased Venezuelan heavy crude oil processing at Chevron's refinery will worsen pollution. A local buyout proposal aims to create a green buffer zone to reduce health risks and flooding, amid ongoing debates over industrial pollution and oil imports.
As of March 9, 2026, global oil prices have surged past $100 per barrel due to escalating US and Israeli strikes on Iran and disruptions in the Strait of Hormuz. This has triggered sharp declines in stock markets worldwide, with major indices in the US, Japan, and South Korea falling significantly. Rising energy costs are fueling inflation concerns and threatening economic growth.
Oklahoma Senator Markwayne Mullin purchased Chevron stock in late 2025, shortly before President Trump attacked Venezuela, where Chevron operates. His trades, part of frequent stock activity, raise questions amid his upcoming confirmation as Homeland Security Secretary. The story highlights concerns over conflicts of interest and congressional trading practices.
Gas prices across the US have increased sharply since late February, driven by geopolitical tensions, refinery closures, and policy factors. The national average now exceeds $4 per gallon, with California reaching nearly $6. California's high costs are linked to refinery closures, taxes, and environmental policies, compounded by recent hacking incidents and potential Iran Strait shutdowns.
Vermont's climate superfund law, designed to fund climate adaptation projects, faces legal challenges from industry groups claiming it oversteps state authority. The law, inspired by federal legislation, aims to hold polluters accountable but is contested by the federal government and industry groups, with potential implications for other states considering similar laws.
Ukraine launched drone strikes on key Russian oil infrastructure in Novorossiysk, damaging a mooring point and igniting fires at oil reservoirs. The strikes target Russia's Black Sea export facilities amid ongoing conflict, impacting global oil supplies and Russia's energy exports.
US banks have reported strong first-quarter profits driven by increased trading activity caused by geopolitical tensions and market volatility. Morgan Stanley, Bank of America, and JPMorgan Chase have posted record revenues, with trading desks benefiting from market swings. However, concerns about geopolitical risks and economic stability persist.
Oil and gas companies have benefited from the Iran conflict, with profits reaching hundreds of billions of dollars. Major firms like Saudi Aramco, ExxonMobil, Shell, and Russian companies are experiencing record windfalls as oil prices stay high. Governments face pressure to impose windfall taxes to ease public burdens.
The Supreme Court has unanimously approved oil companies' move to federal court after a Louisiana jury ordered Chevron to pay over $740 million for coastal damage. The case involves decades of alleged environmental violations by Chevron and Texaco, with implications for future climate litigation and state-federal jurisdiction disputes. Today’s decision shifts the legal battleground.