WASHINGTON, DC – Today, Accountable.US released a new report exposing Big Oil’s efforts to use their public-facing “net zero” and “low-carbon” goals to obscure their future plans for indefinite production of dirty oil. The report details industry giants like BP, who brag about their “net zero” goals while investing ⅓ of one percent of its second-quarter income in renewables and pumping billions into new fossil fuel development.
BP’s CEO even claimed he viewed so-called “natural gas” as a “huge opportunity” because he can label it as “low carbon”. While oil executives criticized the Inflation Reduction Act, many also celebrated the potential increase in access to public lands for their climate-warming drilling projects. Occidental’s CEO views oil and gas prioritization in public land leasing included in the legislation as “very good for our industry”.
Once again, Big Oil is trying to deceive policymakers and consumers. The industry's approach to the climate crisis is fundamentally unserious, spreading dubious claims about carbon capture technology and blue hydrogen to justify the status quo. Whether it’s greenwashing or price gouging, Big Oil will say and do anything to keep their billion dollar profits flowing into corporate coffers."