Oil industry “stunned” by Biden’s fast action on fossil fuel finance and drilling on public lands
The raft of new bold climate policies by Joe Biden has left the oil industry “stunned” with fossil fuel stocks “plunging” due to his actions.
Read the latest insights and analysis from the experts at Oil Change International.
The raft of new bold climate policies by Joe Biden has left the oil industry “stunned” with fossil fuel stocks “plunging” due to his actions.
President Joe Biden has made good start on climate change. But one area that the President is coming under pressure is to take action over fossil fuel subsidies and finance.
And so as President Biden sets to work on his programme for his first 100 days, there is increasing hope for significant on climate change rising from the toxic legacy of the Trump Administration.
Welcome to 2021, which we hope will be a year of transformative change and unstoppable momentum on climate change, culminating in COP26, the crucial climate conference in Scotland at the end of the year.
In the coming days, weeks, and months Oil Change will work to build on our wins and hold the Biden Administration to account, just like we did with Trump and Obama before. We will be pushing for a radical just transition away from fossil fuels.
Yesterday, the World Meteorological Organization (WMO) warned that the “industrial slowdown due to the COVID-19 pandemic has not curbed record levels of greenhouse gases which are trapping heat in the atmosphere, increasing temperatures and driving more extreme weather, ice melt, sea-level rise and ocean acidification.”
Trump seems determined to try and push his rabid fossil fuel agenda through to his last day in office. Until the dying breath of his Presidency, he will do the bidding of Big Oil.