Why the Oil and Gas Industry Is So Afraid of Kamala Harris

Submitted ⁨⁨2⁩ ⁨days⁩ ago⁩ by ⁨silence7@slrpnk.net⁩ to ⁨nyt_gift_articles@sopuli.xyz⁩

https://www.nytimes.com/2024/10/21/opinion/oil-gas-exports-climate-change.html?unlocked_article_code=1.T04.6LTX.tV0nxy_w_O3d&smid=url-share

cross-posted from: slrpnk.net/post/14458546

In particular, they’re looking at charts like this one:

Image

These don’t scale down the industry as fast as we need, but do promise a future of sharply reduced profitability.

source

Comments

Sort:hotnew top

givesomefucks@lemmy.world ⁨2⁩ ⁨days⁩ ago

So much anxiety might seem puzzling given that the Biden years have been very good for U.S. oil and gas producers. Domestic oil production is at record highs. The United States is the world’s top producer and leading exporter of natural gas, and profits of companies such as Exxon Mobil and Chevron have surged, too. Even Mr. Biden’s signature climate legislation, the Inflation Reduction Act, offers the industry generous subsidies, thanks to its tax credits for carbon capture and sequestration and for hydrogen production. The biggest oil and gas producers want Mr. Trump to keep the bill intact if he wins.

Oil and gas lobbyists wanting trump to keep Bidens “signature climate legislation” should tell us all we need to know about how seriously Biden has taken climate change…

And with Kamala passing the tie breaking vote against banning fracking…

I don’t see how she’ll be any different, or why people still act like Biden/Kamala would be good for the environment.

Less damage than the other is still accumulating damage, just at a slower rate.

It’s not even undoing the damage Republicans cause.

source