REUTERS NEXT-Chevron CEO says reviewing political donations after U.S. Capitol assault

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REUTERS NEXT-Chevron CEO says reviewing political donations after U.S. Capitol assault

Chevron is reviewing political donations after last week’s violent invasion of the U.S. capitol, Chief Executive Mike Wirth said on Tuesday while speaking at the Reuters Next conference. Five people died, including a police officer, when supporters of President Donald Trump stormed the seat of Congress in an attempt to disrupt the formal recognition of the U.S. presidential election result.

Several companies have said they would suspend or review some political donations in the wake of the riots, including Marriott International Inc, Archer Daniels Midland Co and the Blue Cross Blue Shield Association. “I specifically asked my team to take a look at the events of last week and make sure those are brought into account as we make our decisions going forward,” Wirth said.

About two-thirds of Chevron’s contributions went to Republicans and one-third to Democrats in the most recent election cycle, Wirth said. The second-largest U.S. oil producer last week called for “the peaceful transition of the U.S. government” and said it looked forward to working with President-elect Joe Biden’s administration “to move the nation forward”.

Wirth also said on Tuesday that Chevron expected to find “common ground” with the Biden administration on the economy and jobs, and expected the world to transition to a “lower-carbon energy system over time”. “We intend to be a part of that,” Wirth said. Chevron is working to reduce its carbon impact and integrate renewables and offsets into its business, he added.

Biden, a Democrat, has promised to end U.S. fossil fuel subsidies and seeks to usher in sweeping measures to combat climate change. Wirth said he expected 2021 to be a better year for the hard-hit oil industry, which has slashed jobs and spending since last spring due to the COVID-19 pandemic.

For more coverage from the Reuters Next conference please click here or www.reuters.com/business/reuters-next To watch Reuters Next live, visit https://www.reutersevents.com/events/next/register.php

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