Oil Company Leaders Support Carbon Pricing Plan
23 Mars 2021 - 12:30AM
Dow Jones News
By Timothy Puko
WASHINGTON -- Top oil company executives, in a meeting with
White House officials Monday, expressed support for putting a price
on carbon emissions as a means to address greenhouse gas emissions
that contribute to climate change.
White House environmental officials hosted the videoconference
meeting with executives from 10 of the industry's biggest
companies, including giants like Exxon Mobil Corp. and Royal Dutch
Shell PLC. The meeting was the White House's first with oil
industry leaders after a series with other industries.
Gina McCarthy, the White House national climate adviser, told
executives the administration must focus on oil-and-gas companies
-- especially their emissions of the greenhouse-gas methane -- in
addressing climate change as a priority, according to people
familiar with the meeting.
Among those attending were Exxon CEO Darren Woods, Chevron Corp.
Chief Executive Mike Wirth, Shell U.S. President Gretchen Watkins
as well as Mike Sommers, president and chief executive of the
American Petroleum Institute.
Company leaders, particularly from the European-based companies,
said they wanted to work with the administration and pledged
support for policies that would make it more expensive to emit the
gases that cause climate change, according to the people.
Some industry officials representing U.S. companies warned that
the wrong policies would hurt U.S. producers and potentially
increase demand for imports of fuel produced abroad under weaker
environmental protections.
In a statement, the White House said Ms. McCarthy "made clear
that the Administration is not fighting the oil and gas sector, but
fighting to create union jobs, deploy emission reduction
technologies, strengthen American manufacturing, and fuel the
American economy."
The meeting comes after weeks of friction over moves the
administration made to halt new oil leasing on federal lands and to
review Trump administration deregulation efforts aimed at helping
U.S. producers.
As they seek to re-emphasize environmental initiatives and
distance the administration from oil, Biden White House officials
had ignored phone calls from oil executives and lobbyists before
assembling the meeting late last week, several current and former
lobbyists said.
A White House spokesman declined to comment.
Ms. McCarthy had met with representatives of other industries,
including utilities and car makers. She sought Monday's meeting as
a listening session with an industry that has been a driver both
for job growth and greenhouse-gas emissions in the U.S. over the
past decade.
White House officials gave no details of what they had planned.
However, they said they want to get a better understanding of the
industry's methane emissions, its abandoned wells and the royalties
it pays the government, said the people familiar with the
meeting.
In recent years plans to tax carbon emissions -- or otherwise
make them more expensive -- have gained support, even among oil
companies like Exxon and Shell. But they have lost momentum among
Democrats, including many in the Biden administration, who question
their efficacy.
The American Petroleum Institute, the U.S. industry's largest
trade group, told officials in the meeting they would soon be
introducing a new policy on climate change. The Wall Street Journal
previously reported its leaders are also considering support for a
price on carbon.
"We are committed to working with the White House to develop
effective government policies that help meet the ambitions of the
Paris Agreement and support a cleaner future," Mr. Sommers said in
a statement after the meeting.
Write to Timothy Puko at tim.puko@wsj.com
(END) Dow Jones Newswires
March 22, 2021 19:15 ET (23:15 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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