CVX Aug 2024 160.000 call
- Associated Press Finance
Chevron takeaways: Supreme Court ruling removes frequently used tool from federal regulators
Federal rules that impact virtually every aspect of everyday life, from the food we eat and the cars we drive to the air we breathe, could be at risk after a wide-ranging Supreme Court ruling Friday. The court rejected a 40-year-old legal doctrine colloquially known as Chevron, effectively reducing the power of executive branch agencies like the Environmental Protection Agency and shifting it to the courts. The doctrine, named after a 1984 case involving the energy giant, has been the basis for upholding thousands of federal regulations but has long been a target of conservatives and business groups, who argue it grants too much power to the executive branch, or what some critics call the administrative state.
- Reuters
Analysis-Wall Street's top regulator faces worsening battle in wake of Supreme Court ruling
The Supreme Court's move to curb federal agency powers could curtail efforts by the U.S. Securities and Exchange Commission to establish new rules to police Wall Street and invite more litigation, legal experts said in the wake of Friday's landmark ruling. The SEC is already fending off an increasing legal assault from public companies, major Wall Street firms and well-heeled cryptocurrency players. The SCOTUS decision, made 6-3, is likely to tie the SEC's hands as it rolls out new rules, according to half a dozen legal experts.
- Bloomberg
Pollution Curbs, Non-Compete Bans at Risk by Chevron Ruling
(Bloomberg) -- The Supreme Court’s decision to undercut the ability of administrative agencies to interpret vague laws casts a long shadow over federal auto emission limits, bans on non-compete agreements and efforts to regulate broadband internet. Most Read from BloombergGavin Newsom Is Ready for the Biden EmergencyThe Question on Democrats’ Minds: How to Replace Biden?Panicked Emails, Gallows Humor: The Aftermath of Biden's Debate DisasterBiden’s Disastrous Debate Accelerates Doubts Over Candi
