Don’t Buy API’s Reversal on Carbon Pricing -- Big Oil Stands in the Way of Bold Climate Action
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President Joe Biden and Vice President Kamala Harris entered office with the most ambitious climate agenda in our nation’s history. Their plans would combat climate change, get American power to carbon neutrality by 2035, and create hundreds of thousands of new jobs.
It’s not surprising that fossil fuel companies wasted no time getting to work to undermine these sweeping proposals. But in a shift of strategy, they’re attempting to undercut the administration’s bold plans by endorsing tepid solutions they had previously opposed -- and one of the key players behind this misleading campaign is the American Petroleum Institute.
The American Petroleum Institute (API) is one of the most powerful trade associations in Washington, D.C., and represents a variety of oil and fossil fuel interests. API is expected to come out in favor of carbon taxes as the primary form of government climate policy -- a solution that may have been viable two decades ago if organizations like API hadn’t blocked it.
In reality, many of API’s members are dead-set against even a conservative solution like carbon pricing. But API’s strategy is to publicly support this proposal in an attempt to shield Big Oil from bold long-term solutions, like transitioning away from fossil fuels entirely.
The American Petroleum Institute wants to appear reasonable and willing to compromise. Don’t fall for it. Neither API nor its members have any legitimate interest in taking the action necessary to curb climate change. They’re just trying to tell the new administration what it wants to hear in a desperate effort to salvage their profit margins.
The Energy and Environment team at Accountable.US will continue to expose special interests’ efforts to undermine climate action. For the latest updates, make sure to follow us on social media.