The American Petroleum Institute plans to soon name Mike Sommers, a former high-level Capitol Hill aide, as its next president and CEO, according to multiple industry sources.
Why it matters: API is the largest and most influential lobbying group representing all types of oil and gas companies. Sommers will take over a surprisingly rocky relationship between President Trump and the industry, who have tangled over biofuels, trade restrictions, and how far to roll back regulations.
In the wake of Earth Day 2018, Mike Allen interviewed former Vice President Al Gore on the future of sustainability.
1 big thing: They discussed the roles the private and public sector should play in addressing climate change, with Gore arguing that we're on the brink of a "Sustainability Revolution"—a revolution with the power of the industrial revolution and the speed of the digital revolution.
Australia is pledging $500 million to a restoration program for the Great Barrier Reef, reports CNN, after marine heatwaves killed off corals in 2016, as a result of global warming.
The details: The funds will go toward initiatives improving water quality and protecting species of endangered species, fish and coral native to the reef. This is the largest investment Australia has made to reef conservation.
When it comes to federal policy priorities, climate change rarely drives the agenda.
Why it matters: It's one of the biggest issues facing political and corporate leaders, yet it is almost always put behind more imminent priorities. The amorphous, long-term nature of the problem doesn’t fit well into political agendas, and companies respond in kind. This dynamic is kicking into high gear under President Trump and a Republican-controlled Congress.
Saudi Aramco on Sunday announced an altered and expanded slate of directors, including the first female member, as the company plans for a massive IPO and widens its international footprint.
Why it matters: The move reflects the broader ambitions of the state oil giant, which is planning the IPO to help fund the kingdom's economic diversification.
