The president said he’d declare an energy “emergency,” promote drilling and end support for electric cars. His pivot to oil and gas follows the hottest year in recorded history.
The newly elected Speaker said the party would make it a priority to “restore America’s energy dominance.”
President-elect Donald J. Trump is expected to roll back many of the rules and subsidies that have attracted billions of dollars from the private sector to renewable energy and electric vehicles.
Countries promised to move away from coal, oil and natural gas at last year’s climate summit. New research shows they’re are burning more than ever before.
High prices and growing demand have helped U.S. oil producers take in record profits despite global efforts to spur greater use of renewable energy and electric cars.
Shell and others say they plan to drill for oil and gas in the Gulf of Mexico in part because doing so releases fewer greenhouse gases than drilling on land.
A boom in data centers and factories is straining electric grids and propping up fossil fuels.
The drop was big, but emissions would need to fall three times as fast for the rest of the decade if the country wants to meet its climate goals.
Two- and three-wheeled vehicles, used by billions of people, are moving away from fossil fuels to batteries faster than cars in countries that have made the energy transition a priority.
Exxon Mobil and Chevron are spending tens of billions of dollars buying oil and gas assets, betting that the International Energy Agency’s predictions of declining oil demand are wrong.