WASHINGTON (AP) — The oil and gas industry’s top lobbying group has endorsed a federal price on carbon dioxide emissions that contribute to global warming. The move on Thursday comes as the Biden administration has pledged dramatic steps to address climate change. The American Petroleum Institute, whose members include ExxonMobil and Chevron, announced the policy change ahead of a virtual forum by the Interior Department as it launches a months-long review of the government’s oil and gas sales. API also called for fast-tracking commercial deployment of technology to capture and store carbon emissions and federal regulation of methane emissions from new and existing oil and gas wells. The industry strongly resisted proposed methane regulations under the Obama administration.
