Market News

U.S. Politicians Are Trading Oil & Gas Stocks

U.S. politicians have traded (bought and sold) the stocks of three offshore oil and gas drilling companies in the past three months. Those companies are Exxon Mobil Corporation (NYSE:XOM), Chevron Corporation (NYSE:CVX), and Hess Corporation (NYSE:HES).

Offshore oil and gas drilling companies are in the limelight as the U.S. regulators, the Department of the Interior and the Bureau of Safety and Environmental Enforcement (BSEE), have proposed new regulations to upgrade safety standards at offshore drilling properties.

As such, risks of non-compliance with the new rules and regulations might increase for offshore oil and gas drilling companies. Thus, it could be revealing to see U.S. politicians’ trading activities in Exxon, Chevron, and Hess stocks.

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