Oil-and-gas giant Total leaves American Petroleum Institute

The major petrochemical companies of Europe are definitely the Royal Dutch Shell, BP, Total of France, and Equinor of Norway. Among them, Total recently decided to leave the American Oil Association, the largest lobbying group in the oil industry in the United States. It is another symbol of Europe’s big oil company pushing the transition to renewable energy. The American Petroleum Institute (API) is the most powerful lobbying group in the petrochemical industry. Total said that they no longer have a stake in themselves (declared carbon neutrality under the Paris Climate Convention, trying to swtich to renewable energy) because they are 1) members of a lobbying group against electric vehicle subsidies and 2) lobbying politicians who urged them to withdraw from the Paris Climate Convention. Crucially, there is also a big difference in the way they set up the price of carbon credits, which is one of the key to future carbon reductions.