U.S. Senate Finance Committee Chair Ron Wyden (D-OR) has issued a release in response to Chevron’s recent decision to buy back USD 75 billion of its shares, including his proposal for the Taxing Big Oil Profiteers Act. First proposed in 2022, the proposed legislation includes a 25% excise tax on stock buybacks by oil companies. The original proposal also included a 21% additional tax on excess profits of oil companies, although it is uncertain if this will be included when the legislation is…