CEO DATELINE - Associations split with oil companies on methane regulation
CEO DATELINE - Associations split with oil companies on methane regulation
- August 30, 2019 |
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Walt Williams
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Two associations representing oil and gas producers are applauding the Trump administration's recent decision to roll back Obama-era limits on methane emissions, but at least three of the largest oil companies say they support the limits, according to the nonprofit watchdog group the Center for Responsive Politics.
The emission limits were enacted under President Barack Obama as part of a larger effort to fight climate change; methane is a more potent greenhouse gas than carbon dioxide. Both the American Petroleum Institute and Independent Petroleum Association of America opposed the stricter limits and lobbied against them, CRP reported. However, ExxonMobil, BP and Shell have all publicly stated that they supported the regulation. All three companies are API members. http://bit.ly/2NIuN4L
In a statement, API Vice President of Upstream and Industry Operations Erik Milito said the Obama-era limits were unnecessary because the oil and gas industry is already "laser-focused" on cutting methane emissions.
"We welcome smart regulations that protect public health and the environment, and provide the flexibility to develop and deliver affordable and reliable American energy," he said in support of the regulatory rollback.
Many corporations are facing increased pressure from consumers and shareholder groups to be better environmental stewards, and some business groups have begun to tweak their approaches to climate issues as a result. For example, the U.S. Chamber of Commerce released a statement earlier this year acknowledging humans' role in climate change after previously hedging on the subject.
ASAE also announced in August that it was adding climate change resiliency to its list of "Drivers of Change" that the association will research and provide guidance on.
CEO Dateline will resume on Tuesday, Sept. 3.
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