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    price gouging

    Mike Wirth Chevron

    After Windfall Profits, Chevron Set to Buy Back $75 Billion in Shares

    "Chevron should not be doing $75 billion in stock buybacks while price gouging American families and accelerating the climate crisis," said one critic.

    Brett Wilkins
    Jan 26, 2023

    Climate and consumer advocates reacted angrily Thursday to Chevron's announcement of 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. Bloomberg notes that the new buyback is equivalent to nearly a quarter of Chevron's market value.

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    Chevron
    Eggs are seen on a shelf at Pioneer Supermarkets on January 12, 2023 in New York City.

    FTC Urged to Crack Down on Egg Industry's 'Organized Theft'

    "Contrary to industry narratives, the increase in the price of eggs has not been an 'act of God,'" says Farm Action. "It has been simple profiteering."

    Kenny Stancil
    Jan 19, 2023

    As U.S. egg producers rake in record profits amid soaring prices, a farmer-led advocacy group focused on building a just and sustainable food system on Thursday implored the Federal Trade Commission to "promptly open an investigation into the egg industry, prosecute any violations of the antitrust laws it finds within, and ultimately, get the American people their money back."

    Just before testifying at an open meeting of the FTC, Farm Action sent a letter to agency chair Lina Khan detailing its "concerns over apparent price gouging, price coordination, and other unfair or deceptive acts or practices by dominant producers of eggs such as Cal-Maine Foods, Rose Acre Farms, Versova Holdings, and Hillandale Farms, among others."

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    corporate greed
     A patient holds a vial of Humalog

    'We're Fighting Back': California Sues Pharma Giants Over Insulin Price Gouging

    "No one should be forced to ration or go without basic medication that could mean the difference between life or death," said California Attorney General Rob Bonta.

    Jake Johnson
    Jan 13, 2023

    The California Justice Department on Thursday sued three large pharmaceutical companies as well as several major pharmacy benefit managers for unlawfully coordinating to drive up the cost of insulin, a lifesaving medication that patients in the United States are often forced to ration due to high prices.

    "Insulin is a necessary drug that millions of Americans rely upon for their health, not a luxury good," California Attorney General Rob Bonta said in a statement announcing the lawsuit, which targets Eli Lilly, Novo Nordisk, and Sanofi—three of the largest insulin-makers in the world—and CVS Caremark, Express Scripts, and OptumRx.

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