U.S. business interests are hoping the Supreme Court in the coming weeks will overturn a legal doctrine established four decades ago that has bolstered the federal government's position in thousands of legal battles concerning regulatory actions. The doctrine, known as Chevron deference, calls for judges to defer to federal agency interpretations of U.S. laws that are deemed to be ambiguous. This doctrine, among the most important principles in administrative law, arose from a 1984 Supreme Court ruling involving oil company Chevron.
In the latest trading session, Chevron (CVX) closed at $156.74, marking a +0.42% move from the previous day.
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