Wall Street Journal: Chevron shareholders to vote on new proposal, potentially for the last time

Great Wall Street Journal piece on the troubling implications of the SEC's decision to allow Exxon to exclude Arjuna's shareholder proposal from going to a vote at its annual meeting."The proposal argues that the company should boost payouts to investors because high-cost energy projects are becoming riskier, in part due to climate regulations." The SEC ruled the proposal had already been "substantially implemented" turning a blind eye to over 2 years of total payout declines as Exxon "ramped up investment" in high cost high carbon "massive energy projects and the price of oil tumbled." Can you follow?

Read the piece at The Wall Street Journal.