Oil companies face 'big tobacco moment' in Congress over their climate policies

PO1 William "Chip" Nagel
..."Will Democrats be able to deliver on climate?
The hearing comes as Democratic leaders in Congress are struggling with intraparty divisions about policies to include in a broad domestic spending bill to combat climate change. President Biden and most Democrats pushed what's called the Clean Energy Performance Program to give utility companies incentives for switching to greener technologies and impose fees for those that failed to reduce emission targets.

Opposition from Manchin forced leaders to scuttle that approach, and they are working on a new mix of tax incentives and research and development grants to try to meet the president's target to cut greenhouse emissions by 50% by 2030.

The president, as well as a congressional delegation, are headed to a climate summit in Scotland this weekend, and many hope there will at least be an agreement on a framework on the climate programs to discuss, even if there is no vote on any package.

Maloney indicated that there would be more hearings on the issue, and that she hoped the companies would "work with us and come clean."

"Our committee members will not be satisfied with the executives paying lip service to renewable energy and climate change measures while they're investing in fossil fuels and signing contracts well into the future," she said."