Top Biden official urges oil companies to speed up low-carbon efforts

Energy Secretary Jennifer Granholm speaks during the 2023 CERAWeek by S&P Global conference in Houston on March 8. Photo: Aaron M. Sprecher/Bloomberg via Getty Imagesand European governments wary of U.S. policy: Low-carbon transition isn't a zero-sum game.

Granholm praised the industry for boosting domestic oil production amid the Russia crisis in the speech, whichShe put a positive spin on tensions with EU officials over U.S. subsidies for low-carbon tech manufacturing projects. Granholm pointed out that's pushing Europe to boost support and called "friendly competition" helpful to the world.For instance, Granholm said: "We don't want to stoke trade wars or anything like that, but we are serious about bringing back supply chains into this country."

Oil execs argue the White House is stifling development, including what they fear will be a de facto rejection of ConocoPhillips' big Willow project in Alaska.

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Fossil fuels needed through 2050, Energy Secretary Granholm tells industryThe Biden administration wants the U.S. to reach net-zero emissions by 2050 to help limit global warming. SecGranholm said the world will need fossil fuels for decades, but they must be paired with technologies that capture greenhouse gas emissions. SecGranholm naive SecGranholm Is she changing her tune or what? SecGranholm These climate hoax promoters need to be thrown in mental health hospitals; only released once they confess to spreading misinformation.
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