Gold prices bounce off 3-week lows; demand likely longer term
Investing.com -- Senator Elizabeth Warren and some of her Democratic colleagues have sent letters to the CEOs of ConocoPhillips (NYSE:COP) and Ovintiv (NYSE:OVV) Inc. regarding their lobbying activities related to the new tax bill supported by President Trump.
The letters addressed to Ovintiv’s Brendan McCracken and ConocoPhillips’ Ryan Lance raise concerns about lobbying efforts that could potentially create what the senators describe as a "$1.1 billion tax loophole" for oil companies.
In their communications, the Democratic lawmakers requested information about how much the companies plan to spend on lobbying related to Republican tax legislation for the current year.
The senators also asked the oil company executives to disclose the amount of money their companies have donated to politicians who are advocating for tax cuts that would benefit these energy firms.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.