Massive Investment In Clean Energy Is the Most Reliable Way to Weaken Putin’s Grip on the Global Energy Market

Today, the American Petroleum Institute plans to hold a briefing, during which the front group will likely repeat its attempt to profit off of the war in Ukraine with more domestic drilling. Up until this week, many of API’s members—Exxon, BP, and Shell—were making money off of their business in Russia. Now, they want to continue the profit streams in America with more drilling. 

In anticipation of the API briefing, Evergreen Action Executive Director Jamal Raad released the following statement:  

“The fossil fuel industry’s so-called solution to this crisis is nothing more than a recipe to enable fossil-fueled fascists like Vladimir Putin for years to come. No amount of domestic extraction can change the fact that fossil fuels are a global commodity. As long as our economy is dependent on fossil fuels, we will be at the mercy of petro-dictators who wield their influence on global energy prices like a weapon. 

“While Big Oil and their lobbyists wage a false, cynical campaign to capitalize on the human tragedy unfolding in Ukraine, the real long term solution is right in front of us. American made clean energy is affordable, reliable, and free from the volatility of oil and gas markets. The best way to weaken Putin’s grip on the global energy market is to get America off of fossil fuels.

“It is despicable that the corporate polluters that have done business in Russia and enabled the Putin regime are now trying to profit off of this human rights disaster. Giving in to the demands of war profiteers in the oil and gas industry would be a step backwards for our national security and the fight against the climate crisis with no upside for the American people. At a minimum, new fossil fuel projects take years to come online. Ramping up domestic production now would have no impact on short term prices and would not help us supply more energy to our allies in Europe next winter. The only real impact would be short-term profits for the fossil fuel industry and long-term climate damage. Transitioning to clean energy would secure a stable domestic energy supply, shield American households from the price shocks of volatile international fossil fuel markets, and deprive Putin of demand for the fossil fuels propping up his regime. For a more secure American future and cheaper energy prices, we must free ourselves from fossil fuels for good.”

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