Finance Association News on November 13 (Editor: Liu Rui) On Tuesday Eastern Time, the US oil and gas industry directly speaks to US President-elect Trump, urging him to repeal many of the climate change policies of the Biden administration, stating that these measures threaten American jobs, consumer choice, and energy security.

API calls on Trump to cancel climate policies.

The American Petroleum Institute (API) is the largest trade organization for oil and gas in the United States. The association urges Trump, after taking office, to cancel existing car emission standards that support the electric vehicle industry, lift the ban on liquefied natural gas (LNG) export permits, and work with Congress to eliminate charges for methane emissions from drilling operations.

In recent years, Biden has been seeking to transition the US economy to clean energy and has tightened regulations on the oil and gas industry. Despite this, during Biden's term, domestic oil and gas production in the USA hit record highs.

During his campaign, Trump has already promised to repeal dozens of environmental regulations and policies that oil and gas producers have been complaining about.

API CEO Mike Sommers said: "Looking at the results of last week's election, it is clear that energy is a major issue on the ballot... Voters across the country, regardless of party, are sending policymakers a clear message that they want a comprehensive approach to energy issues, not government directives and restrictions, whether it's Michigan's electric vehicle mandate or Pennsylvania's hydraulic fracturing regulations."

API makes multiple appeals.

API calls on Trump to cancel the federal government's delegation to California, not allowing California to enact stricter state emission regulations than federal regulations, and to abolish the Environmental Protection Agency (EPA)'s clean energy regulations.

The organization also advocates supporting liquefied natural gas (LNG) exports, holding more oil and gas drilling auctions in the Gulf of Mexico, and lifting restrictions on oil and gas development on federal land in the United States.

API also hopes that Trump will make it easier for oil and gas developers to obtain drilling permits by amending the Clean Water Act and the National Environmental Policy Act. API also hopes that the U.S. government will implement tax incentives for investments in oil and gas extraction infrastructure.

Do U.S. oil giants call for staying in the Paris Climate Agreement?

It is worth mentioning that just before API released this policy call document, ExxonMobil CEO Darren Woods had just stated at the United Nations COP29 Climate Summit that the United States should not withdraw from the Paris Climate Agreement as promised by Trump.

ExxonMobil stated in a declaration: "If the United States withdraws from the Paris Climate Agreement for the second time, it will have profound implications for the country's efforts to reduce its own emissions and international efforts to combat climate change."

In 2017, before Trump announced plans to withdraw from the Paris Climate Agreement, Exxon Mobil also advocated for the USA to remain in the agreement. In addition, Exxon Mobil supported Biden's decision to rejoin the agreement in 2021.

When asked about Woods' comments, API's Summers expressed that his organization will focus on both reducing carbon emissions and meeting global energy needs at the same time.

"Whether the USA joins the agreement or not, we will continue to do so," said Summers.