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WASHINGTON, DC – Today, the U.S. House Committee on Oversight and Reform is expected to release a trove of internal documents from the nation’s largest oil companies. In response, Accountable.US released the following statement and report. Despite Big Oil’s public support for a “low carbon” future, the documents reveal oil executives have little intention of participating in any type of energy transition that does not involve burning climate-warming fossil fuels.

“

Today's news shows Big Oil is fundamentally unserious about addressing the climate crisis. For years the industry has spent millions on flashy marketing campaigns to astroturf support for a low-carbon future. At the same time, they spewed dangerous climate-warming pollution into our communities and lobbied Congress to continue the country's status quo reliance on dirty fuels. Whether it’s greenwashing or price gouging, Big Oil will stop at nothing to keep their billion-dollar profits flowing into corporate coffers."

Jordan Schreiber, Director of Energy and Environment at Accountable.US

Report Highlights: 

  • BP bragged about its “net zero” goals while investing ⅓ of one percent of its 2022 second-quarter income in renewables and pumping billions into new fossil fuel development.
  • BP’s CEO claimed climate warming “natural gas” as a “huge opportunity” because of its deceptive marking as a “low carbon” fuel. 
  • Occidental’s CEO views oil and gas prioritization in public land leasing included in the legislation as “very good for our industry”.  
  • Oil CEOs boasted to investors about long-term plans to keep drilling for more oil on public lands and waters during quarterly profit calls. 
  • Less than 0.1% of fossil fuel emissions are actually sequestered through carbon capture and storage.

 

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