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      Gulf Oil Spill Shows 'Danger of Banks Owning Energy Companies'

      "The Federal Reserve must enforce the Bank Holding Company Act and disallow Wall Street banks from controlling energy infrastructure, as it poses systemic risks," said a Public Citizen campaigner.

      Jessica Corbett
      Nov 22, 2023

      Banking giant JPMorgan Chase has financial ties to a company that owns the pipeline suspected of leaking up to 1.1 million gallons of oil into the Gulf of Mexico—a situation that watchdogs say demonstrates the danger of such business relationships.

      "JPMorgan's control over a company involved in a massive oil spill in the Gulf of Mexico clearly illustrates the danger of banks owning energy companies," Tyson Slocum, director of consumer watchdog Public Citizen's Energy Program, declared Wednesday.

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      fossil fuels
      Stock prices whiz by on a ticker near the Goldman Sachs booth

      No, Says Consumer Watchdog, Goldman Sachs Shouldn't Be Allowed to Sell Electricity

      "It is highly concerning to see a large Wall Street bank enter a market known for its lack of consumer protection."

      Jessica Corbett
      Nov 01, 2023

      Federal regulators should not allow Goldman Sachs to become the first Wall Street bank to sell retail electricity contracts to U.S. households, a campaigner with Public Citizen argued Wednesday.

      "Competitive retail electricity suppliers solicit households to sign contracts to provide electricity, often door-to-door," said Tyson Slocum, director of the consumer watchdog's energy program, in a statement. "The industry is known to frequently employ unfair and deceptive marketing and sales tactics, disproportionately impacting low-income communities, communities of color, and the elderly."

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      Washington Gov. Jay Inslee

      Local Leaders, Climate Groups Blast FERC Approval of Fracked Gas Pipeline Expansion

      "This irresponsible decision will have implications on the health and well-being of communities, as well as lasting impact on generations to come," warned one campaigner.

      Jessica Corbett
      Oct 19, 2023

      Elected officials and environmental advocates in the Pacific Northwest on Thursday condemned U.S. regulators for greenlighting a Canadian company's fracked gas pipeline expansion project despite the fossil fuel-driven climate emergency.

      The Federal Energy Regulatory Commission (FERC) approved TC Energy's Gas Transmission Northwest (GTN) XPress Project, which would upgrade compressor stations in Kootenai County, Idaho; Sherman County, Oregon; and Walla Walla County, Washington.

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