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BP PLC

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U.S. House panel to probe oil companies over climate disinformation

09/16/2021 | 02:24pm EDT

WASHINGTON, Sept 16 (Reuters) - U.S. Democratic lawmakers on Thursday asked the chiefs of four major fossil fuel companies and two lobbying groups to testify next month on whether the industry led an effort to mislead the public and prevent action to fight climate change.

House Oversight Committee Chairwoman Carolyn Maloney and Ro Khanna, chairman of the Subcommittee on Environment, sent letters to the chief executives of Exxon Mobil Corp, Chevron Corp, BP USA, and Royal Dutch Shell Oil Co, asking them to appear before a hearing on Oct. 28 and provide emails and documents.

They also sent the requests, first reported by the New York Times, to the heads of two lobbying groups: the American Petroleum Institute (API) and the Chamber of Commerce.

"I plan to get to the bottom of how fossil fuel companies have raked in trillions of dollars of profit at the expense of our planet and our health, all while spreading doubt and disinformation about the dangers of fossil fuels," Maloney said through a spokesperson.

The letter cited a study in the peer-reviewed journal Climatic Change that said 91 think tanks and advocacy organizations that downplayed global warming were funded by Exxon and industry groups.

The requests come months after a video surfaced in June, in which an Exxon lobbyist said https://www.reuters.com/business/sustainable-business/exxon-lobbyist-duped-by-greenpeace-says-climate-policy-was-ploy-ceo-condemns-2021-06-30 the company's public support for a tax on carbon was a ruse because the plan to curb climate change would never gain enough political support to be adopted. The day the footage aired, Darren Woods, Exxon's chairman and chief executive, condemned the lobbyist's remarks.

The requests also come as Democrats seek to pass climate measures in a massive budget reconciliation bill, some of which fossil fuel interests oppose because they could add costs to drilling and mining.

Exxon said it will continue to communicate with staff on the committee about its requests. Chevron said it was reviewing the committee's letter.

Shell said it looks forward to working with the committee and supports the transition to a lower-carbon future.

BP said it received the letter and is advocating for policies that support the transition to a net-zero emissions world by 2050.

API spokesperson Bethany Aronhalt said her organization welcomes the opportunity to testify and "advance our priorities of pricing carbon, regulating methane and reliably producing American energy."

A spokesperson for the Chamber of Commerce said the group believes that inaction on climate change is not an option and that it has been working with lawmakers on solutions, "most notably" in the bipartisan infrastructure bill.

(Reporting by Timothy Gardner; Editing by Aurora Ellis and Jonathan Oatis)


© Reuters 2021
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Sales 2021 172 B - -
Net income 2021 13 895 M - -
Net Debt 2021 39 109 M - -
P/E ratio 2021 7,23x
Yield 2021 4,40%
Capitalization 97 635 M 97 454 M -
EV / Sales 2021 0,80x
EV / Sales 2022 0,80x
Nbr of Employees 63 600
Free-Float 94,0%
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