Corporate Corruption Media ArticlesExcerpts of Key Corporate Corruption Media Articles in Major Media
Note: Explore our full index to key excerpts of revealing major media news articles on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.
The lobbying industry had a record year in 2021, taking in $3.7 billion in revenue as companies, associations and other organizations pressed Congress and the Biden administration over trillions of dollars in new pandemic spending and rules affecting health care, travel, tourism and other industries. The revenue figures, compiled in recent weeks from government records by OpenSecrets, show that lobbying spending began steadily growing in 2017. The jump in 2021, when lobbying spending was about 6 percent higher than 2020, came as the government's pandemic interventions and record expenditure took center stage. The surge came as companies and associations aimed to roll back regulations on their industries – many of them pandemic-related – while others vied for a slice of the trillions in new spending. Manufacturers, unions, financial companies and technology firms all spent significantly more in 2021 than in previous years. Thousands of companies and organizations appeared to hire lobbyists for the first time during the pandemic, as more than 3,700 companies and other groups that spent no money lobbying the government in 2019 paid lobbyists last year. The pharmaceutical industry, regularly one of the biggest spenders in Washington, also increased its spending. Its top trade group, the Pharmaceutical Research & Manufacturers of America (PhRMA), topped $30 million in spending last year, up 17 percent from the year prior.
Note: For more along these lines, see concise summaries of deeply revealing news articles on government corruption from reliable major media sources.
Meta Platforms will allow Facebook and Instagram users in some countries to call for violence against Russians and Russian soldiers in the context of the Ukraine invasion, according to internal emails seen by Reuters on Thursday, in a temporary change to its hate speech policy. The social media company is also temporarily allowing some posts that call for death to Russian President Vladimir Putin or Belarusian President Alexander Lukashenko, according to internal emails to its content moderators. "As a result of the Russian invasion of Ukraine we have temporarily made allowances for forms of political expression that would normally violate our rules like violent speech such as 'death to the Russian invaders.' We still won't allow credible calls for violence against Russian civilians," a Meta spokesperson said in a statement. The calls for the leaders' deaths will be allowed unless they contain other targets or have two indicators of credibility, such as the location or method, one email said, in a recent change to the company's rules on violence and incitement. Last week, Russia said it was banning Facebook in the country in response to what it said were restrictions of access to Russian media on the platform. Moscow has cracked down on tech companies, including Twitter, which said it is restricted in the country, during its invasion of Ukraine, which it calls a "special operation." Emails also showed that Meta would allow praise of the right-wing Azov battalion, which is normally prohibited.
Note: Read more about Facebook permitting praise for the neo-Nazi Azov battalion. Intrepid reporter Ben Swann gives a great, balanced view on the biolabs in the Ukraine, including efforts to scrub one particularly incriminating video from the Internet. And explore an alternative viewpoint on the Ukrainian situation from a respected source. For more along these lines, see concise summaries of deeply revealing news articles on media corruption from reliable sources.
Oil and gas companies and lobby groups in Canada are heavily investing in campaigns to present themselves as defenders of Indigenous interests in the face of high-profile protests against a controversial natural gas pipeline on First Nation land. "I'm being a steward to my land and I'm being a defender," read one of 21 ads targeting British Columbia in November 2021, quoting a Coastal GasLink worker from Nak'azdli Whut'en' First Nation. As the ad conveying Indigenous support for the pipeline appeared on the Facebook and Instagram feeds of people in the Canadian province, 30 Wet'suwet'en Nation members and supporters were being violently evicted from their territory along the pipeline. The fossil fuel groups spent some C$122,000 (US$95,249) on more than 400 targeted Facebook and Instagram ads. The vast majority of the ads, which were shown some 21m times in total, were linked to the Coastal GasLink pipeline, the site of intense protest and violent police crackdown in recent years. The construction of the 670km pipeline through unceded Wet'suwet'en territory – land never signed away to the Canadian government – has sparked nationwide protests in recent years. Analysis of Facebook advertisements ... by Eco-Bot.Net, a research project exposing climate crisis misinformation and corporate greenwashing online, has found a steady flow of "Indigenous-washing" ad campaigns from TC Energy, the company behind the pipeline, and associated oil and gas lobby groups.
In September 2019, Ryanair circulated a series of adverts on TV, radio and online which urged customers to fly with "Europe's Lowest Fares, Lowest Emissions Airline. Everybody knows that when you fly Ryanair you enjoy the lowest fares. But do you know you are travelling on the airline with Europe's lowest emissions as well?" The Advertising Standards Agency (ASA), the UK's advertising watchdog, banned the campaign several months later after concluding that these claims were misleading. Ryanair is far from the only company to come under fire for making misleading climate claims. Since the Paris Agreement was signed in 2015, there has been a wave of corporate commitments to reduce emissions. But the increase in enthusiasm for climate responsibility has been matched by a rise in concerns that some companies are using advertising and public messaging, with buzzwords such as "carbon neutrality" and "net zero", to try to appear more sustainable than they actually are. This is referred to by some as "greenwashing". Consumers are increasingly seeing through misleading claims and making more complaints about them as a result. Almost 50 complaints are currently pending globally before a court or an advertising standards body, according to a recent report. The ASA plans to release new guidance to ensure adverts don't mislead the public about the environment in 2022. To date, most complaints regarding misleading climate claims are dealt with by watchdogs, rather than taken to court.
"Would you like to sign in with your palm?" That was the question a cheerful Amazon employee posed when greeting me last week at the opening of a Whole Foods Market in Washington's Glover Park neighborhood. For the next 30 minutes, I shopped. Then I simply walked out, no cashier necessary. Whole Foods – or rather Amazon – would bill my account later. More than four years ago, Amazon bought Whole Foods for $13 billion. Now the Amazon-ification of the grocery chain is physically complete. Amazon designed my local grocer to be almost completely run by tracking and robotic tools for the first time. The technology, known as Just Walk Out, consists of hundreds of cameras with a god's-eye view of customers. Sensors are placed under each apple, carton of oatmeal and boule of multigrain bread. Deep-learning software analyzes the shopping activity to detect patterns and increase the accuracy of its charges. The Whole Foods in Glover Park ... has sparked a spirited local debate, with residents sparring on the Nextdoor community app and a neighborhood email list over the store's "dystopian" feeling versus its "impressive technology." Some ... said they had found errors in their bills and complained about the end of produce by the pound. Everything is now offered per item, bundle or box. Some mourned the disappearance of the checkout line, where they perused magazines. Many were suspicious of the tracking tech. "It's like George Orwell's â€1984,'" said Allen Hengst, 72, a retired librarian.
On September 19, 2019, House Speaker Nancy Pelosi introduced the Elijah Cummings Lower Drug Costs Now Act. The bill ... would allow the federal government to negotiate drug prices on behalf of Medicare, a right assumed by the governments of every other major economy. Polls showed support ranging from 80 to an eye-popping 90-plus percent. H.R. 3 was delivered stillborn into Mitch McConnell's Senate in November of 2019. Two years later, when Joe Biden released the massive social-spending and climate-change bill dubbed Build Back Better, H.R. 3's reforms were nowhere to be found. And at every level of government, Pharma's endless river of money continues to flow, the widest, steadiest current of lobbying largesse the capitol has ever known. In 2021, the industry reported spending $124 million on a fleet of 846 lobbyists, roughly two for every member of Congress. Sixty-five percent were former government employees. Pharmaceutical manufacturers are part of a larger coalition that includes the insurance, medical-device, and hospital industries. Its combined resources flow downstream through dozens of lobbying firms, communications shops, and front groups. "If a freshman Democrat so much as signs a letter related to drug prices, the lobby hammers them with phone calls and meeting requests, completely locking up the calendar," says Alex Lawson, executive director of Social Security Works. "The calls come in from ex-Democratic officials and staffers, so they have to take the meetings."
The fallout from a huge leak of Credit Suisse banking data threatened to damage Switzerland's entire financial sector on Monday after the European parliament's main political grouping raised the prospect of adding the country to a money-laundering blacklist. The European People's party (EPP), the largest political grouping of the European parliament, called for the EU to review its relationship with Switzerland and consider whether it should be added to its list of countries associated with a high risk of financial crime. Experts said that such a move would be a disaster for Switzerland's financial sector, which would face the kind of enhanced due diligence applied to transactions linked to rogue nations including Iran, Myanmar, Syria and North Korea. The EPP released the proposal after media outlets including the Guardian, SĂĽddeutsche Zeitung, the Organized Crime and Corruption Reporting Project (OCCRP), and Le Monde revealed how a massive leak of Credit Suisse data had uncovered apparently widespread failures of due diligence by the bank. The investigation, called Suisse secrets, identified clients of the Swiss bank who had been involved in torture, drug trafficking, money laundering, corruption and other serious crimes. The country's addition to the EU high-risk third countries list would mean regulated professions, such as bankers, lawyers and accountants, would be required to conduct enhanced due diligence on any transaction or commercial relationship with a person or company in the country.
Note: For more along these lines, see concise summaries of deeply revealing news articles on financial system corruption from reliable major media sources.
The world is spending at least $1.8tn (Ł1.3tn) every year on subsidies driving the annihilation of wildlife and a rise in global heating, according to a new study, prompting warnings that humanity is financing its own extinction. From tax breaks for beef production in the Amazon to financial support for unsustainable groundwater pumping in the Middle East, billions of pounds of government spending and other subsidies are harming the environment, says the first cross-sector assessment for more than a decade. This government support, equivalent to 2% of global GDP, is directly working against the goals of the Paris agreement and draft targets on reversing biodiversity loss, the research on explicit subsidies found, effectively financing water pollution, land subsidence and deforestation with state money. The fossil fuel industry ($620bn), the agricultural sector ($520bn), water ($320bn) and forestry ($155bn) account for the majority of the $1.8tn, according to the report. No estimate for mining, believed to cause billions of dollars of damage to ecosystems every year, could be derived. Lack of transparency between governments and recipients means the true figure is likely to be much higher, as is the implicit cost of harmful subsidies. Last year, an International Monetary Fund report found the fossil fuel industry benefited from subsidies worth $5.9tn in 2020.
One in three people across America have detectable levels of a toxic herbicide linked to cancers, birth defects and hormonal imbalances, a major nationwide survey has found. Human exposure to the herbicide 2,4-D has substantially risen amid expanding use among farmers despite a multitude of health and environmental concerns, according to the first nationally representative study evaluating the footprint of the chemical. Researchers from George Washington university examined the urine samples of 14,395 people (aged six and older) from all walks of life who take part in the annual National Health and Nutrition Examination Survey. They looked for biomarkers to the pesticide, and compared the exposure levels detected with the use of 2,4-D from 2001 until 2014. As the pesticide grew in popularity among farmers and gardeners, so did evidence of human exposure, rising from a low of 17% in 2001-02 to a high of almost 40% a decade later. Exposure to high levels of 2,4-D, an ingredient of Agent Orange used against civilians during the Vietnam war, has been linked to cancers including leukemia in children, birth defects and reproductive problems among other health issues. The study, published online in Environmental Health, found exposure was not uniform, with several subgroups including children aged six to 11 and women of childbearing age showing substantially higher levels of 2,4-D in their urine. Overall, the amount of 2,4-D applied in agriculture increased 67% between 2012 and 2020.
A foundation representing the vaccine maker BioNTech has been accused of seeking to undermine the World Health Organization's initiative to bring covid vaccine manufacturing to the African continent. The kENUP Foundation, a consultancy hired by BioNTech, has claimed that WHO's hub, which is creating a covid-19 mRNA vaccine that African companies can make, is unlikely to be successful and will infringe on patents, documents obtained by The BMJ have shown. Instead, they show kENUP promoting BioNTech's proposal to ship mRNA factories housed in sea containers from Europe to Africa, initially staffed with BioNTech workers, and a proposed new regulatory pathway to approve the vaccines made in these factories. The novel pathway has been described as paternalistic and unworkable. The move threatens the pan-African venture backed by WHO that seeks to scale up African production of lifesaving vaccines from 1% to 60% by 2040. WHO's technology transfer hub, launched in June 2021 and based in South Africa, uses publicly available information to recreate Moderna's vaccine, to teach companies and scientists across the continent how to use mRNA technology. It will then develop a comparable vaccine, which, if successful in clinical trials and approved by regulators, it will manufacture industrially. In a document sent to South African government officials after a visit to the country on 11-14 August last year, the kENUP Foundation said that the hub's activity should be stopped.
What if I told you that a multinational oil company allegedly polluted the Amazon for almost three decades? And that the oil company has spent even more years refusing to accept liability? Or that a US attorney who agreed to represent thousands of Ecuadorian villagers in a lawsuit against that oil company has lost his law license, income, spent hundreds of days under house arrest in New York, and in 2021 was sentenced to six months in prison? From 1964 to 1990, Texaco, which merged with Chevron in 2001, allegedly spilled more than 16m gallons of crude oil – "80 times more oil than was spilled in BP's 2010 Deepwater Horizon disaster", according to Gizmodo – and 18bn gallons of polluted wastewater in the Amazon rainforest. The pollution allegedly contaminated the ground and waterways with toxic chemicals that the plaintiffs – mostly Indigenous people and poor farmers – say has caused cancer, miscarriages, skin conditions and birth defects. In 1993, [attorney] Steven Donziger ... began working on an environmental case on behalf of Ecuadorians. In 2011 ... an Ecuadorian court ruled that Texaco, which had been bought by Chevron at this point, was "responsible for vast contamination." PR advisers for Chevron promised to "demonize" Donziger in the public eye. The oil company "hired private investigators to track Donziger, created a publication" which smeared him, and "put together a legal team of hundreds of lawyers from 60 firms, who have successfully pursued an extraordinary campaign against him."
Pfizer made nearly $37bn (Ł27bn) in sales from its Covid-19 vaccine last year – making it one of the most lucrative products in history – and has forecast another bumper year in 2022, with a big boost coming from its Covid-19 pill Paxlovid. The US drugmaker's overall revenues in 2021 doubled to $81.3bn. The bumper sales prompted accusations from campaigners of "pandemic profiteering". The group Global Justice Now said the annual revenue of $81bn was more than the GDP of most countries. Pharmaceutical companies have been accused of not sharing the recipe for their vaccines, which would enable drugmakers in poorer countries to produce cheaper versions of them. Global Justice Now pointed out that Pfizer's Covid-19 jab was invented by BioNTech, supported by â‚Ź100m (Ł84m) in debt financing from the publicly owned European Investment Bank and a â‚Ź375m grant from the German government. Tim Bierley, a pharma campaigner at the group, said: "The development of mRNA vaccines should have revolutionised the global Covid response. "But we've let Pfizer withhold this essential medical innovation from much of the world, all while ripping off public health systems." According to Reuters, Pfizer has sold the vaccine to African countries at $3 to $10 a shot. It has indicated that a non-profit dose costs just $6.75, or Ł4.98, to produce, but it has reportedly charged the NHS Ł18 a dose for the first 100m jabs bought and Ł22 a dose for the next 89m, totalling Ł3.76bn ... amounting to an eye-watering 299% mark-up.
Note: If big Pharma really cared about public healthy, don't you think they'd be willing to sacrifice some of their huge profits and charge much less for their injections? Unfortunately, it's the old story of the rich get richer and the rest are left behind. For more along these lines, see concise summaries of deeply revealing news articles on Big Pharma profiteering from reliable major media sources.
Pfizer Inc wants to intervene in a Texas federal lawsuit seeking information from the U.S. Food and Drug Administration used in licensing the company's COVID-19 vaccine, a litigation move that plaintiffs who are suing for the data say is premature. Pfizer's lawyers at DLA Piper told U.S. District Judge Mark Pittman on Jan. 21 it wanted a role in the proceedings to help the FDA avoid "inappropriately" disclosing trade secret and confidential commercial information. On Tuesday night, the group of doctors and scientists who sued last year over public access to the FDA's Pfizer licensing records said in a court filing that the company's bid to jump into the lawsuit was untimely because the plaintiffs have not challenged any redactions to requested records. Earlier this month, the judge ordered a fast-track release of hundreds of thousands of documents, calling the case "of paramount public importance." U.S. government agencies control the release of information under federal public-records laws, but companies can challenge and even sue to block the disclosure of certain details. The FDA earlier drew criticism over its plan to release 500 pages a month in response to the lawsuit from Public Health and Medical Professionals for Transparency, a production schedule that would take more than 50 years to complete. In its filing, Pfizer said the company supports public disclosure of FDA records "to promote transparency and the public's confidence in the vaccine."
The chief executives of America's largest airlines warned of a "catastrophic disruption" to travel and shipping operations if telecommunication companies roll out their 5G technology as planned Wednesday without limiting the technology near U.S. airports. On Tuesday, AT&T and Verizon both confirmed to CBS News that they have voluntarily agreed to postpone turning on a limited amount of towers around certain airports. "We are frustrated by the FAA's inability to do what nearly 40 countries have done, which is to safely deploy 5G technology without disrupting aviation services, and we urge it to do so in a timely manner," an AT&T spokesperson said in a statement, reiterating that the rest of their 5G launch will continue as planned. The executives, writing to Transportation Secretary Pete Buttigieg and other U.S. government officials, highlighted the risk of "economic calamity" should Verizon and AT&T proceed with deploying the new technology before the necessary upgrades and changes have been made to aviation equipment. "We are writing with urgency to request that 5G be implemented everywhere in the country except within the approximate two miles of airport runways as defined by the FAA on January 19, 2022," the CEOs said in a Monday letter. "To be blunt, the nation's commerce will grind to a halt," they said. The letter was signed by CEOs of major airlines including American, United, Delta and Southwest, as well as the leaders of shipping giants FedEx and UPS.
After raking in enormous profits from its coronavirus vaccine in 2021, the U.S.-based pharmaceutical giant Pfizer has kicked off the new year by hiking the prices of more than 120 of its drugs, resulting in significantly higher costs for patients amid a deadly pandemic. That's according to a new report released Thursday by Patients for Affordable Drugs (P4AD), which found that pharmaceutical companies have raised the prices of 554 medicines this month alone. Pfizer led the way with 125 price hikes to start 2022, leading P4AD to label the company the industry's "poster child for greed." "Due to sales of its Covid-19 vaccine, which is set to be the best-selling drug of all time, Pfizer shattered profit records in 2021. Projected sales for 2022 are $54.5 billion–more than double the previous record for one-year sales for a prescription drug," the report notes. "To put this into perspective, AbbVie's Humira previously held the spot with $19.8 billion in sales, and Pfizer's best-selling product just prior to the pandemic achieved worldwide revenues of $5.8 billion." "Despite this record revenue in 2021," the report continues, "Pfizer began 2022 with price hikes on seven of its 10 best-selling drugs," including its pneumonia vaccine (up 6.9%), a breast cancer medication (up 6.9%), and a treatment for people with cardiovascular disease (up 6%). "These hikes of 5% or 6% can translate into thousands of dollars in higher costs for patients," P4AD notes.
Note: See also a Forbes article asking why physicians aren't challenging outrageous pricing for medical costs. For more along these lines, see concise summaries of deeply revealing news articles on Big Pharma profiteering from reliable major media sources.
For 33 years and four months [the highly decorated General Smedley] Butler had been a United States Marine. Butler knew what most Americans did not: that in all those years, he and his Marines had destroyed democracies and helped put into power the Hitlers and Mussolinis of Latin America, dictators like the Dominican Republic's Rafael Trujillo and Nicaragua's soon-to-be leader Anastasio Somoza – men who would employ violent repression and their U.S.-created militaries to protect American investments and their own power. He had done so on behalf of moneyed interests like City Bank, J. P. Morgan, and the Wall Street financier Grayson M.P. Murphy. And now a bond salesman, who worked for Murphy, was pitching Butler on a domestic operation that set off the old veteran's alarm bells. The bond salesman was Gerald C. MacGuire. He made his proposal: The Marine would lead half a million veterans in a march on Washington, blending the Croix de Feu's assault on the French legislature with the March on Rome that had put Mussolini's Fascisti in power. They would be financed and armed by some of the most powerful corporations in America – including DuPont, the nation's biggest manufacturer of explosives and synthetic materials. The purpose of the action was to stop Roosevelt's New Deal, the president's program to end the Great Depression, which one of the millionaire du Pont brothers deemed "nothing more or less than the Socialistic doctrine called by another name." Butler recognized this immediately as a coup.
Note: Read a concise summary of the highly decorated US General Butler's important book "War is a Racket." He makes clear that the reason we have so much war has little to do with national security and everything to do with padding the pockets of those in the military-industrial complex. Read more about the fascist plot to take over the US that he uncovered. For more along these lines, see concise summaries of deeply revealing news articles on military corruption from reliable major media sources.
Facebook finally admitted the truth: The "fact checks" that social media use to police what Americans read and watch are just "opinion." That's thanks to a lawsuit brought by celebrated journalist John Stossel, which has exposed the left's supposed battle against "misinformation" as a farce. Stossel posted a pair of videos that touched the third rail of liberal politics – climate change. Neither questioned whether climate change is real, but each talked about other issues, namely forest management and using technology to adapt. Yet the third party that Facebook contracts to review these pieces, Science Feedback, flagged them as "false," or our favorite, "lacking context." Why? Science Feedback didn't like Stossel's "tone." That is, you can't write anything about climate change unless you say it's the worst disaster in the history of humanity and we must spend trillions to fight it. The Post has faced this same gauntlet too many times. In February 2020, we published a column by Steven W. Mosher asking if COVID-19 leaked from the Wuhan Lab. This was labeled "false" by Facebook's fact-checkers. Of course, those supposed "independent" scientific reviewers relied on a group of experts who had a vested interest in dismissing that theory – including EcoHealth, which had funded the Wuhan lab. When Twitter "fact checked" and blocked The Post's stories about Hunter Biden's laptop as "hacked materials," what was the basis? Nothing. It wasn't hacked. Guess they didn't like our tone.
A journalist writing for The BMJ has won a British Journalism Award for his series on the financial interests of medical experts advising US and UK governments during the covid-19 pandemic. As a result of the articles written by Paul Thacker, an investigative journalist, the financial disclosures of members of the Scientific Advisory Group for Emergencies (SAGE) were published for the first time. Thacker's first story looked at two groups critical to the UK government's pandemic response–SAGE and the Vaccine Taskforce. He examined both and found that they did not disclose their members' financial conflicts. Some members were tied to companies with a monetary interest in the government's purchases. Thacker ... filed freedom of information (FoI) requests with multiple government departments and Oxford University. In a second story he wrote about the government's repeated refusal to turn over these data. However, the FoI ... revealed that Thacker's original request was apparently sent to a special government department to handle any reporter considered a "campaigner" or to have "extreme views." Eventually, the government relented and published the financial conflicts for the members of SAGE. In the final story of the series Thacker looked at the panels that the US and UK governments used to authorize vaccines and revealed that ... disclosure policies were inadequate. Some experts evaluating the vaccines had significant industry ties that were not disclosed.
Note: Read the full text of Thacker's article titled, "Covid-19: How independent were the US and British vaccine advisory committees?" and another titled "How the case of the Oxford professor exposes a transparency crisis in government." For more along these lines, see concise summaries of deeply revealing news articles on government corruption and the coronavirus from reliable major media sources.
Laurie Valeriano first heard about DINP decades ago. "I started to worry about the chemicals that come out of all these plastics," she said. DINP, one of a group of chemicals called phthalates that makes plastic more pliable, was one of them. It was already clear that DINP could cause cancer and interfere with hormonal functioning. In February 2000, Valeriano and her employer, the Washington Toxics Coalition, asked the Environmental Protection Agency to add DINP to the list of chemicals it monitors through a nationwide program called the Toxics Release Inventory. Seven months later ... the EPA announced that it planned to grant the group's request and issued a proposed rule that would add DINP to the toxics inventory. Yet more than 20 years later, the EPA has yet to make good on its promise to add DINP to the list of chemicals. It never finalized the rule. Companies have continued to churn out DINP ... in astounding amounts without disclosing how much individual plants make and emit. In addition to the cancer and hormone disruption that sparked Valeriano's claim 21 years ago, we now know more about how DINP affects the sexual development of children. It decreases sperm motility, increases malformations of the testes and other organs, and makes boys ... more likely to be infertile later in life. In fact, the entire group of phthalates – an estimated half-billion pounds of which are made and used in the U.S. each year – seem to cause a similar constellation of health problems.
The largest oil and gas companies made a combined $174bn in profits in the first nine months of the year as gasoline prices climbed in the US, according to a new report. The bumper profit totals ... show that in the third quarter of 2021 alone, 24 top oil and gas companies made more than $74bn in net income. From January to September, the net income of the group, which includes Exxon, Chevron, Shell and BP, was $174bn. Gasoline prices have hit a seven-year high in the US due to the rising cost of oil, with Americans now paying about $3.40 for a gallon of fuel compared with around $2.10 a year ago. The Biden administration has warned the price hikes are hurting low-income people, even as it attempts to implement a climate agenda that would see America move away from fossil fuels, and has released 50m barrels of oil from the national strategic reserve to help dampen costs. But oil and gas companies have shown little willingness so far to ramp up production to help reduce costs and the new report, by the government watchdog group Accountable.US, accuses them of "taking advantage of bloated prices, fleecing American families along the way" amid ongoing fallout from the Covid-19 pandemic. The analysis of major oil companies' financials shows that 11 of the group gave payouts to shareholders worth more than $36.5bn collectively this year, while a dozen bought back $8bn-worth of stock.
Note: For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption from reliable major media sources.
Important Note: Explore our full index to key excerpts of revealing major media news articles on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.