Saturday, January 16, 2021

Oil giant splits from powerful lobbying group over climate change


By Matt Egan, CNN Business
Updated 4:24 PM ET, Sat January 16, 2021

The American Petroleum Institute, the nation's largest and most powerful oil lobby, is losing one of its biggest members over a disagreement about addressing the climate crisis.

France's Total announced Friday it is quitting the API because of the lobby's stances on regulation and carbon pricing as well as its support for politicians who oppose the Paris climate agreement. The move makes Total the first major oil company to leave the API because of the climate crisis.

The exit underscores the divide in the oil industry over how to respond to climate change. Top European oil companies including Total and BP have made more aggressive promises to slash carbon emissions and invest in clean energy than ExxonMobil (XOM), Chevron and other US firms.

The move also comes amid a broader reckoning in Corporate America over political contributions following the insurrection at the US Capitol.


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