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Photo: Jonathan Raa/NurPhoto via Getty Images

Oil-and-gas giant Total said this morning that it's leaving the American Petroleum Institute, which is the industry's most powerful U.S. lobbying group.

Why it matters: It's the biggest rupture yet between European-headquartered multinational oil majors and U.S.-based trade groups over climate policy.

What they're saying: France-based Total cited several differences with API.

  • They noted API is part of a group that opposes electric vehicle subsidies.
  • They also cited differences on carbon pricing and that "API gave its support during the recent elections to candidates who argued against the United States’ participation in the Paris Agreement."

Where it stands: API said the world's energy and environmental challenges benefit from a diversity of views and approaches.

  • "As a member-driven organization, we do not support subsidizing energy because it distorts the market and ultimately proves harmful to consumers," the group said.
  • The industry is focused on "meaningful action and shaping policy at all levels of government to reduce U.S. emissions and ensure access to affordable and reliable energy," they said.

Editor's note: This story was updated with a response from API.

Go deeper

Ben Geman, author of Generate
Jan 29, 2021 - Economy & Business

Chevron posts another quarterly loss under weight of pandemic

Photo: Justin Sullivan/Getty Images

Chevron posted another quarterly loss Friday in the latest sign of how the pandemic is still weighing on oil companies despite some price recovery during the second half of the year.

Driving the news: The oil giant reported a $665 million loss for the October-December period, but it shrinks to $11 million on an adjusted basis after considering charges on its acquisition of Noble Energy and "foreign currency effects."

Updated 2 hours ago - Technology

Instagram's boss faces Congress' questions on harm to teens

Photo illustration: Shoshana Gordon/Axios. Photo: Matt Winkelmeyer/Getty Images for WIRED

The head of Instagram will find himself in Congress' crosshairs for the first time Wednesday in the one area lawmakers have shown they are willing to pass tech regulations — protecting youngsters online.

Why it matters: Republicans and Democrats have found common ground in grilling tech companies on how their products harm children, especially after revelations in The Wall Street Journal about Instagram's potential harm to the mental health of teen girls.

Jan. 6 committee to start contempt proceedings against Meadows

Photo: Olivier Douliery/AFP via Getty Images

The Jan. 6 select committee plans to move forward with contempt proceedings against former White House Chief of Staff Mark Meadows for his refusal to comply with the panel's subpoena.

Why it matters: The committee has used the threat of contempt — and the associated financial and reputational costs — to try to ensure evasive witnesses sit for their depositions.