Exclusive: U.S. oil industry seeks unusual alliance with Farm Belt to fight Biden electric vehicle agenda


FILE PHOTO: FILE PHOTO: E85 ethanol fuel is shown being pumped into a vehicle at a gas station selling alternative fuels in the town of Nevada, Iowa, December 6, 2007. REUTERS/Jason Reed/File Photo/File Photo

NEW YORK (Reuters) - The U.S. oil industry is seeking to forge an alliance with the nation's corn growers and biofuel producers to lobby against the Biden administration's push for electric vehicles, but is so far meeting a cool reception, according to multiple sources familiar with the discussions.

The effort to promote liquid fuels and combat expected federal subsidies for electric vehicles marks an unusual attempt by the petroleum industry to join with its long-time rivals, reflecting the scale of its concern over President Joe Biden's measures to combat climate change and tamp down fossil fuels.

Subscribe now and receive FREE sooka plan for 1 month.
T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

   

Next In Tech News

Crypto market capitalisation hits record $3.2 trillion, CoinGecko says
Swedish games developer Embracer misses Q2 operating profit forecast
Buy now, pay later: Latin America pressured by Chinese online shops
Major Apple supplier Foxconn's Q3 profit up 14% on AI boom
France's Thales sees revenue and profit growth after cyber expansion
ASML says its revenue to grow to between $46 billion and $63 billion by 2030
Siemens flags geopolitical risks ahead after profit falls
Amazon launches an online discount storefront to better compete with Shein and Temu
Livestreamed prayers for stressed South Korean exam parents
Poland's Allegro sees earnings growing 4-7% at home in Q4

Others Also Read