Transparency in Climate and Energy
We all consume oil and gas, and we all use electricity. But not enough information is available about who sets prices for these commodities and how they are set. Nor is the federal government forthcoming about what's being done to ensure that the fossil fuel industry and Wall Street are not running roughshod over consumers. Public Citizen works to ensure corporate accountability and proper oversight of energy markets.
Big Energy Money in Politics and Government
As the U.S. Chamber of Commerce fights for the right of oil, gas and mining corporations to keep payments to foreign governments secret, Public Citizen fights for transparency.
Demanding answers: Was a $100,000 inaugural contribution linked to a utility’s newfound optimism about receiving an $8.3 billion federal loan guarantee?
Shareholders and activists took on Duke Energy demanding disclosure of its political spending to its shareholders.
Public Citizen works to shed light on lobbyists and corporations that aid in striking down effective clean energy and climate legislation.
Public Citizen, along with other watchdog groups, signed a letter to Department of Energy Secretary Stephen Chu expressing concern over the agency’s lack of transparency in managing the Title XVII Loan Guarantee Program.
Wall Street Speculation and Oil Markets
In a letter Public Citizen urged the Commodity Futures Trading Commission to make public trader-specific total provisions as part of the commission’s Comments of Traders reports.
Blog post reporting on findings that show that the head of JPMorgan’s Global Commodities Group was aware of the company’s electricity market manipulation scheme, helped to conceal the scheme and lied to state and federal officials when confronted about the company’s manipulation strategies.
We explain how speculators clean up no matter what gas prices are and ask the DOJ to release findings from the Oil Gas Price Working Group.
Public Citizen draws attention to the reports that at least three major oil companies — BP, Statoil and Shell — allegedly conspired to submit false trading data to a for-profit media company, McGraw Hill, in a successful effort to rig crude oil prices for U.S. and international consumers, raise serious questions about whether such privately-controlled, non-transparent energy price indexes should continue to play a role in price setting.
Public Citizen's Tyson Slocum, director of Public Citizens Energy Program, testified before a U.S. Senate Subcommittee encouraging improved trading market data disclosure by publishing trader-specific positions. He stated that regular public disclosure of such data is essential for market transparency and to educate the public on who the individual traders are who help set energy prices.
In this blog post, Public Citizen's Tyson Slocum explains the benefits of transparency measures in Dodd-Frank, to contrast against Rep. Henserling's attack of the bill.
Public Citizen's Allison Fisher warned that the Commission's lack of subpoena power may lead to unanswered questions regarding the BP explosion.
Consumer Protections and the Energy Market
Read our call for the FERC chair nominee to increase market monitor transparency through consumer protection plans.
This blog post touches on the fact that many oil and gas companies have been known to force families to sign non-disclosure agreements that mask information on drilling contamination.