Fossil-fuel billionaires bought up millions of shares after meeting with top Trump officials
NegativeFinancial Markets
- Two fossil-fuel billionaires, Robert Pender and Michael Sabel, purchased millions of shares in Venture Global shortly after meeting with senior Trump administration officials, who subsequently issued a crucial regulatory permit that benefited the company’s expansion in Europe. The timing of these transactions has raised ethical concerns regarding potential conflicts of interest.
- The acquisition of shares by Pender and Sabel is significant as it reflects their confidence in Venture Global's future, particularly following the regulatory approval that could enhance the company's market position in the liquefied natural gas sector.
- This incident highlights ongoing debates about the intertwining of politics and business, particularly in the fossil fuel industry, where Trump's administration has been criticized for prioritizing energy production over environmental concerns, raising alarms among environmentalists about the long-term implications for climate policy.
— via World Pulse Now AI Editorial System
