Big Oil is all set to fight climate change in a better return – ABC17NEWS

Matt Egan, CNN Business

The U.S. oil and gas industry is fighting tooth and nail to kill or measure climate change under President Joe Biden’s $ 3.5 trillion developer.

In an interview with CNN, Mike Sommerers, president and CEO of the powerful American Petroleum Institute, said: “We are leaving everything here.

The API is swinging congressional districts and paying for social media ads for better planning.

Since the US Senate approved the budget on August 11, the API has spent $ 423,000 on Facebook ads at least 213 times. Climate crisis.

“We will use every tool we have to oppose these ideas,” Sommerers said.

Climate activists have criticized the APU for trying to stop a one-generation effort to end the crisis.

The API knows that the future will be built on clean energy and they have serious political problems. That’s why they are doing everything they can to stop climate change and keep pockets for oil industry executives, ”Lori Lods, media executive at Sera Club and other environmental groups, told CNN. Press release.

“But their lies no longer work. He said the API was losing power in Washington and that Congress would go back and invest in a clean energy future for the next generation by passing better legislation.

Exxon will spend it to fight tax increases

Despite Big Oil pressure, Binden’s administration has indicated that it will continue to fight climate change.

Resolving the climate crisis is a priority for President Biden, and this administration is using it to solve all the tools in our arms. Stop it completely, ”a White House spokesman told CNN.

The country’s largest oil and gas company, Exmonmobile, has spent at least $ 1.6 million on Facebook posting 31 million political and advertising ads since August 11, according to Influenzap.

Exx has spent a lot of money in recent days as lawmakers struggle to finalize the deal. InfluenceMap XXX spent $ 296,954 on Facebook ads with 5.4 million views between September 21 and September 27 alone.

In a statement to CNN, Exxon said the concern over the “redevelopment” was focused on the proposed legislation to increase corporate tax rates.

“Our operational efforts are related to the tax burden that could hurt American businesses, and we have made that position public,” Excon said in a statement. ExxonMobil is committed to making US businesses more competitive.

Exxon has emphasized its support for the Paris climate agreement since its inception, and the company continues to “advocate for methane regulations and economic value of carbon.”

Natural gas is a key battlefield

However, API, which is a member of Exxon, Chevron and many other energy companies, is having problems with methane regulations in return for better planning.

The law pays for methane emissions from the oil and gas industry. Biden recently announced that the United States and the European Union have pledged to reduce methane emissions by 30% by the end of the decade.

Scientists say that methane is 25 times hotter than carbon dioxide, which is a central problem in climate change. Methane is a major component of natural gas, a key component of the American grid and heating system.

“It’s a major tax on US natural gas,” said API chief executive Somor. It is an example of something we are trying to answer.

With natural gas prices soaring in the United States since 2014, the controversy has been exacerbated by rising inflation in Europe and Asia, leading to a power crisis that has led to a shutdown and bond bond.

“When natural gas prices rise, especially in the winter, the last thing lawmakers need to do is raise prices for American consumers,” Sommerers said of methane charges.

European gas crisis

Sommermers added that the rising natural gas prices in Europe should serve as a warning to US politicians.

“In Europe there is a very rapid transition to power. I would argue that it was very fast. ” Legislators in the United States should pay close attention to what is happening in Europe as a warning sign of what could happen here.

Of course, Somers’ policy is only for one reason in Europe. There is another reason – Russia.

“Russia continues to be a difficult player in the energy market,” Somers said.

In fact, Goldman Sachs reported on Friday that Russia’s large supply of natural gas is one of the biggest sources of mistrust in Europe. “Russia could aggravate or solve the gas shortage,” wrote Goldman Sachs.

Greening the grid. But how fast is it?

The API is also trying to better implement a clean electricity bill in a better way. The $ 150 billion program aims to stimulate the movement of renewable energy by rewarding utilities and electricity suppliers if they increase clean energy use.

He said the Somersers API is working hard to pass a clean electricity program or reduce the emissions in the energy industry.

“If you make that transition, it will increase costs and reduce reliability,” Somers said.

Proponents argue that the clean energy program will create millions of new jobs, while at the same time reducing greenhouse gas emissions from the energy sector and tackling climate change.

President Joe Biden’s goal is to make the US grid work on clean energy by 2035 and 10035, a major goal that requires not only coal but also natural gas transfers.

He said the API would continue to push for government policies to reduce emissions, including a framework for climate change that would require investment in infrastructure technology by controlling methane and “market-based carbon prices.”

“Republicans and Democrats agree on climate change,” Somers said. “Our industry is doing the same and is taking action with innovative and carbon prices and methane direct policies.

Once again, the API’s efforts to water the developer’s best parts show the struggle behind the struggle to draft legislation aimed at tackling the climate crisis.

The CNN-Wire
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