United States Oil Fund, LP

United States Oil Fund, LP is an exchange‐traded fund (ETF) that tracks the price movements of West Texas Intermediate (WTI) crude oil, providing investors an accessible way to gain exposure to the oil market without owning the physical commodity.

CCI Score

-47.93

0.02% April 18

Latest Event

'USO' Facing Regulatory Action Raises Concerns Over Unethical Business Practices

The United States Oil Fund, LP (USO), the world's largest oil ETF, is under SEC scrutiny following a Wells notice alleging fraud related to misleading disclosures about significant portfolio changes during volatile market conditions. This regulatory action calls into question the transparency and ethical responsibility of the company's business practices.

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QUISLING

United States Oil Fund, LP is currently rated as a Quisling.

-44 to -59 CCI Score

These companies are fully aligned with authoritarian regimes. They not only support but also enforce oppressive policies, playing a significant role in the regime’s operational apparatus and contributing directly to its consolidation of power.

Latest Events

AUG

17

2025

'USO' Facing Regulatory Action Raises Concerns Over Unethical Business Practices
-51.68

The United States Oil Fund, LP (USO), the world's largest oil ETF, is under SEC scrutiny following a Wells notice alleging fraud related to misleading disclosures about significant portfolio changes during volatile market conditions. This regulatory action calls into question the transparency and ethical responsibility of the company's business practices.
-50

Business Practices and Ethical Responsibility

March 25

USO is facing a Wells notice from the SEC on allegations of fraud related to its disclosure practices during a period of significant market stress. These allegations suggest potential unethical business practices which compromise transparency and investor protection. Such actions undermine the ethical responsibilities expected of corporate entities, thereby raising concerns about their complicity in broader exploitative and potentially authoritarian economic behaviors.

'USO' Facing Regulatory Action | etf.com
JAN

03

2025

Fossil Fuel Political Funding and Its Indirect Implications for USO
-77.73

The article reports on the fossil fuel industry's $219 million spending to elect the new U.S. government, highlighting how massive campaign contributions—such as the $2 million to President-elect Donald Trump’s campaign—reinforce the political influence of the fossil fuel sector. Although United States Oil Fund, LP is an ETF tracking crude oil prices and does not directly donate, its role in providing exposure to the oil market links it indirectly to the industry’s political financing practices that support authoritarian governance.
-80

Political Contributions and Lobbying Efforts

March 25

The report details how the fossil fuel industry channeled significant funds into political campaigns, overwhelmingly supporting Republican candidates and figures like President-elect Donald Trump. Such contributions help entrench authoritarian tendencies by prioritizing corporate interests over democratic governance. Even though USO, as an ETF, does not directly contribute to political campaigns, its core investment in the oil sector connects it to the broader financial apparatus that underwrites these politically influential practices.

The fossil fuel industry spent $219 million to elect the new U.S. government
NOV

13

2024

Oil & Gas Lobbying Expenditures Highlighted in 2024
-14.37

Data from Statista highlights significant lobbying expenditures within the oil & gas sector during election cycles. While United States Oil Fund, LP is an ETF tracking crude oil prices and does not directly engage in political lobbying, its role within the fossil fuel sector indirectly supports an environment where large-scale lobbying is prevalent. This association raises concerns from an anti-fascist perspective regarding indirect support for authoritarian-friendly policies.
-15

Political Contributions and Lobbying Efforts

March 25

The Statista data illustrates aggressive lobbying spending by oil and gas companies, a key issue for anti-fascist groups concerned with corporate political influence. Although United States Oil Fund, LP itself is an ETF and not a direct lobbyist, its intrinsic link to the fossil fuel market implicates it indirectly by sustaining an industry known for significant political contributions. This indirect support is assessed negatively in relation to authoritarian policy reinforcement.

U.S. oil & gas lobbying spend by party 2024