FENY - Big Oil leaders support carbon pricing plan in meeting with Biden officials

In a video conference meeting today with Biden administration officials including national climate advisor Gina McCarthy, executives from 10 of the biggest oil companies including CEOs of Exxon Mobil (XOM) and Chevron (CVX) CEO Mike Wirth offered support for putting a price on carbon emissions as a way to address greenhouse gas emissions that contribute to climate change.The meeting reportedly focused on emissions of methane from oil and gas production and on the industry's role in the administration's plans to decarbonize the U.S. economy.Some execs from U.S. companies warned that the wrong policies would hurt U.S. producers and potentially increase demand for imports of fuel produced abroad under weaker environmental protections.In a statement, the White House said McCarthy "made clear that the Administration is not fighting the oil and gas sector, but fighting to create union jobs, deploy emission reduction technologies, strengthen American manufacturing, and fuel the American economy."ETFs: [[XLE]], [[XOP]], [[VDE]],

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Big Oil leaders support carbon pricing plan in meeting with Biden officials