Lawmakers threaten Big Oil CEOs with subpoenas for climate disinformation campaign

Published

4 years ago

October 29, 2021

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An oil pump jack in a field with wind turbines in Corpus Christi, Texas, U.S., Friday, Feb. 19, 2021.

Eddie Seal | Bloomberg | Getty Images

A day-long Congressional hearing on ‘climate disinformation’ on Thursday, where executives of some of the world’s largest oil companies defended themselves against lawmakers, ended with House Oversight and Reform Committee Chairwoman Carolyn Maloney threatening to issue subpoenas.

“Please know that I do not take this step lightly … we are at code red for climate and I am committed to doing everything I can to help rescue this planet and save it for our children,” Maloney said. “We need to get to the bottom of the disinformation campaign and with these subpoenas we will.”

Executives from the oil companies, including ExxonMobil, Chevron, Shell and BP America, defended themselves and their company’s actions, saying they were in line with science of the day.

“Our understanding of the science has been aligned with the consensus of the scientific community as far back as 20 years ago,” said Exxon CEO Darren Woods, responding to questioning from Maloney. “As science has evolved and developed, our understanding has evolved and developed, as has our work and position on the space.”

Maloney said she did not get the information she and her lawmaker colleagues were looking for.

Lawmakers had requested documents from each of the big oil companies in attendance six weeks ago which were due Sept. 30. Lawmakers followed up before the due date and identified key categories of documents they wanted to see. The companies missed the deadline to produce the documents the group was looking to see, and lawmakers warned the companies they had until Oct. 25 or they would “face further action,” Maloney said.

None of the six entities delivered “a substantial portion” of the “key documents” Maloney and the committee wanted to see. Instead, they produced “reams” of publicly available documents.

One group sent in 1,500 pages of documents printed from their own website and 4,000 pages of newsletters with industry press releases, Maloney said. Other companies delivered thousands of pages of publicly available annual reports and company postings on Facebook and LinkedIn, she said.

What Maloney wanted to see was detailed funding information “to understand their payments to shadow groups and to over 150 public relations companies and advertisements on social media,” she said. Those documents were not provided, she said, and called those “payments that today’s witnesses seem intent on continuing.”

Rep. Ro Khanna, the chairman of the Subcommittee on the Environment, pressured Woods to say statements from a former Exxon executive, Lee Raymond, which denied a connection between fossil fuels and global warming was a mistake. While Khanna started his testimony saying, “I don’t have any interest in being adversarial,” the resulting back and forth with Woods got pretty tense.

“You know, when I make a statement, that’s wrong, when most people make a statement, that’s wrong, they say, ‘Okay, it’s a mistake. We regret it.’ I’m just asking you for that,” Khanna said.

“I don’t think it’s fair to judge something 25 years ago with what we’ve learned since,” Woods said.

“I’m disappointed that you’re not willing to say that something is a mistake. It doesn’t inspire a lot of confidence about, you know, introspection and going forward. I’m surprised actually, I thought you would just say it’s a mistake,” Khanna said.

Khanna also asked executives on the spot to tell the American Petroleum Industry, the industry trade group, to stop opposing legislation to promote electric vehicles.

Big oil companies are still funding groups like the American Petroleum Institute, an industry trade organization, which is getting in the way of reforms promoting electric vehicle use, Maloney said.

“I see no choice but to continue our committee’s investigation until we see the truth,” Maloney said.

“I have tried very hard to obtain this information voluntarily but the oil companies employ the same tactics they use for decades on climate policy — delay and obstruction. Well, that ends today,” Maloney said. She added that she had draft subpoenas on hand.

In addition to emphasizing that their companies were operating in accordance with the science of the time, the executives also focused on the clean energy innovation they are doing.

“Just as when we were founded in 1879, we continue to believe in a power of human ingenuity to overcome obstacles and find responsible solutions for meeting the world’s growing energy needs to deliver a better future for all,” Chevron CEO Michael K. Wirth said at the hearing.

While the stated goal of the hearing was “to examine the fossil fuel industry’s long-running, industry-wide campaign to spread disinformation about the role of fossil fuels in causing global warming,” according to a statement from the lawmakers’ committee, the content of the hearing ranged far beyond climate disinformation to include a political referendum on gas prices, American energy independence, among many other topics.

But many of the hours of the hearing were lawmakers taking the five minutes in the spotlight to address energy issues key to their own constituents.

For example, lawmakers brought up the high price of gas at the pump for consumers.

“It’s clear that this hearing is part of a Democrat led disinformation campaign to distract from the Biden administration’s failed policies that are hurting average Americans,” Virginia Foxx, a Republican Congressperson from North Carolina said.

“As of this morning $3.39 per gallon gas is the average price of gas in America,” Foxx said. “This hurts families in my district and across the nation enough to decide which items on their grocery list they cannot buy, and what trips they can no longer afford to take.”

Environment

How one man with a hacksaw and an e-bike became a Texas flood ‘hero’

Published

4 hours ago

July 15, 2025

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How one man with a hacksaw and an e-bike became a Texas flood 'hero'

Locals call him the “Bicycle hero,” but Texas man Evan Wayne says he’s just doing what he can to help his community after it was cut off due to the recent devastating and deadly flooding tragedy.

When the local Sandy Creek flooded following torrential rains in Texas, it destroyed the only bridge into one community. Residents were cut off from access to supplies, including everything from necessities like food, water, and medicine to basic comforts.

Although the bridge was impassable to cars, volunteers who quickly organized to help the stranded residents found that the damaged bridge could still be traversed on foot. Or in the case of Evan Wayne, it could be covered by an electric bike.

Evan joined hundreds of volunteers who answered the call of grassroots organizers by working together without any official capacity. While many started by hand-pulling garden carts of supplies uphill to reach the stricken community, Evan jury-rigged a trailer to an e-bike and took on as much of the load as he could, helping shuttle much-needed food and gear into the community over hundreds of round-trip journeys.

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“This was a dog trailer 48 hours ago. I had a hacksaw, hacked the top off, grabbed some bungee cords, and here we are,” explained Evan in an interview with CBS Austin, while waiting for the next load of gear to be stacked on his trailer.

In the first two days of the operation, he made around 100 round trips each day, shuttling food and water as well as critical rescue supplies. “Right now, I’m waiting on a couple of chainsaws that I’ll bring in for a crew that’s been going at it with handsaws so far.”

In addition to delivering needed supplies, Evan has often found himself moving something even more important: information. “I’ve flagged down medics. I’ve been the guy that goes between Austin EMT and STAR Flight because I’m quicker than cell phones sometimes, people don’t have signal a lot of the time.”

Evan quickly points out that he isn’t the only one helping. “I’ve got an e-bike, but other people are pulling carts. People are walking, people are carrying things. Everyone is doing what they can.” But there’s no doubt that his ability to carry more gear at higher speeds and make hundreds of round-trip journeys so far in and out of the stricken neighborhood has helped impact countless lives.

“This is all volunteers here. They’re just taking it upon themselves to get people where they need to go. I think there’s an umbrella company coming in, taking over tomorrow, but until they get here, people are just taking care of people, which is what you’ve got to do.”

E-bikes proving their worth in emergencies

While many people consider electric bicycles just another form of recreation, they’ve proven to be potent transportation alternatives after natural disasters worldwide.

Not only do their small and efficient batteries make performing hundreds of rescue trips like Evans’ possible, but recharging can be done simply and easily with a solar panel when electricity is out after a disaster. And when gas stations are out of fuel (or simply can’t pump it with the power grid down), e-bikes can keep running while gasoline-powered motorcycles or ATVs run dry.

Electric bicycle batteries have also proven to be a handy source of emergency power after hurricanes and other disasters, often helping owners keep their phones charged up for days to remain in contact with family or rescue services.

While most hope to never need theirs for emergency purposes, electric bicycles have proven their worth in countless disaster scenarios, adding benefits far beyond just alternative transportation, recreation, or fitness riding.

E-bikes can be kept running nearly indefinitely after natural disasters with access to solar recharging equipment

Image credits: CBS Austin (screenshots), used under fair use

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Environment

Block leads rebound in fintech stocks as analysts downplay JPMorgan data fee risk

Published

11 hours ago

July 14, 2025

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Block leads rebound in fintech stocks as analysts downplay JPMorgan data fee risk

Twitter CEO Jack Dorsey testifies during a remote video hearing held by subcommittees of the U.S. House of Representatives Energy and Commerce Committee on “Social Media’s Role in Promoting Extremism and Misinformation” in Washington, U.S., March 25, 2021.

Handout | Via Reuters

Block jumped more than 5% on Monday, leading a rally in shares of fintech companies as analysts downplayed the threat of JPMorgan Chase’s reported plan to charge data aggregators for access to customer financial information.

The recovery followed steep declines on Friday, after Bloomberg reported that JPMorgan had circulated pricing sheets outlining potential fees for aggregators like Plaid and Yodlee, which connect fintech platforms to users’ bank data.

In a note to clients on Monday, Evercore ISI analysts said the potential new expenses were “far from a ‘business model-breaking’ cost increase.”

In addition to Block’s rise, PayPal climbed 3.5% on Monday after sliding Friday. Robinhood and Shift4 recorded modest gains.

Broader market momentum helped fuel some of the rebound. The Nasdaq closed at a record, and crypto rallied, with bitcoin climbing past $123,000. Ether, solana, and other altcoins also gained.

JPMorgan announces plans to charge for access to customer bank data

Evercore ISI’s analysts said that even if JPMorgan’s changes were implemented, the most immediate effect would be a slight bump in the cost of one-time account setups — perhaps 50 to 60 cents.

Morgan Stanley echoed that view, writing that any impact would be “negligible,” especially for large fintechs that rely more on debit, credit, or stored balances than bank account pulls for transactions.

PayPal doesn’t anticipate much short-term impact, according to a person with knowledge of the issue. The person, who asked not to be named in order to speak about private financial matters, noted that PayPal relies on aggregators primarily for account verification and already has long-term pricing contracts in place.

While smaller fintechs that depend heavily on automated clearing house (ACH) rails or Open Banking frameworks for onboarding and compliance may face real pressure if the fees take effect, analysts said the larger platforms are largely insulated.

WATCH: Congress moves to redraw $3.7 trillion crypto market rules, opening door to Wall Street

Environment

EV sales hit 9.1M globally in H1 2025, but the US just hit the brakes

Published

11 hours ago

July 14, 2025

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EV sales hit 9.1M globally in H1 2025, but the US just hit the brakes

The global EV market is still charging ahead. According to new numbers from global research firm Rho Motion, 9.1 million EVs were sold worldwide in the first half of 2025, up 28% compared to the same period last year. But not every region is accelerating at the same pace.

China and Europe are doing the heavy lifting

More than half of the world’s EVs this year have been bought in China. That market hit 5.5 million sales in the first six months of 2025 – a 32% jump year-over-year. Around half of new cars bought in China are now electric.

While some Chinese cities’ subsidies have dried up, Rho Motion expects momentum to pick back up later in the year as more funding is released.

In Europe, 2 million EVs were sold in the first half of the year, up 26%. Battery electric vehicle (BEV) sales also rose 26%, thanks in part to affordable models like the Renault 4 (pictured) and 5 entering the market. Plug-in hybrids (PHEVs) weren’t far behind, growing 27% year-to-date. Chinese automakers are leaning into PHEVs as a way to work around the EU’s new tariffs on BEVs.

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Spain is leading the pack with EV sales soaring 85% so far this year. Its generous MOVES III incentive program was extended in April and has kept sales strong. The UK and Germany are also seeing solid growth – 32% and 40%, respectively. France, however, is slumping. With subsidies cut, EV sales there have dropped 13%.

North America is stuck in the slow lane

Things aren’t looking quite as bright in North America. EV sales in the US, Canada, and Mexico are up just 3% so far this year.

Mexico is the one bright spot, with a 20% boost. The US is up 6%. But Canada is down a whopping 23%.

And things could get bumpier. On July 4, Trump signed Congress’s big bill into law, which axes all the Inflation Reduction Act EV tax credits. Those consumer credits for EVs now officially end on September 30.

Just over half of the EVs sold in the US this year qualified for those credits. Rho Motion predicts a rush in Q3 before the subsidies disappear – and a decline in sales after that.

Rho Motion data manager Charles Lester said, “With Trump’s latest cuts in his ‘Big Beautiful Bill,’ the US could struggle to see any growth in the EV market overall in 2025.”

Global EV sales snapshot, H1 2025 vs H1 2024

Global: 9.1 million (+28%)
China: 5.5 million (+32%)
Europe: 2.0 million (+26%)
North America: 0.9 million (+3%)
Rest of world: 0.7 million (+40%)

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