Oil-and-gas giant Total said this morning that it's leaving the American Petroleum Institute, which is the industry's most powerful U.S. lobbying group.
Why it matters: It's the biggest rupture yet between European-headquartered multinational oil majors and U.S.-based trade groups over climate policy.
- Total, Shell, BP and Equinor have previously left some other trade associations.
What they're saying: France-based Total cited several differences with API.
- They noted API is part of a group that opposes electric vehicle subsidies.
- They also cited differences on carbon pricing and that "API gave its support during the recent elections to candidates who argued against the United States’ participation in the Paris Agreement."
Where it stands: API said the world's energy and environmental challenges benefit from a diversity of views and approaches.
- "As a member-driven organization, we do not support subsidizing energy because it distorts the market and ultimately proves harmful to consumers," the group said.
- The industry is focused on "meaningful action and shaping policy at all levels of government to reduce U.S. emissions and ensure access to affordable and reliable energy," they said.
Editor's note: This story was updated with a response from API.
