Oil Industry Formally Backs Carbon Price, Methane Rule In Climate Strategy

The American Petroleum Institute (API) has formally endorsed establishing a price on carbon emissions across all industry sectors and is calling for a methane emissions rule on new and existing facilities, as part of a climate policy “framework” for government and industry action. While not a surprise, the move is still significant for an industry that has opposed strict greenhouse gas regulations and marks a political shift in the climate policy debate as the Biden administration moves on its goal...