Washington, DC — 350.org reacted enthusiastically to President Obama’s new plan to fund a 21st Century Clean Transportation System with a $10 per barrel fee on oil companies to be phased in over 5 years.
350.org’s Policy Director Jason Kowalski issued the following response to the news,
“This is a big deal. President Obama is standing up to Big Oil and putting a price on pollution so we can fund the transition to a clean energy economy. The $10 price per barrel is still just a fraction of the cost carbon imposes on our country, but it’s a start. The plan opens the door to more creative ways to get the fossil fuel industry to finally pay up for wrecking our climate.
The move should send a clear signal to investors: get out of fossil fuels and start investing in a clean energy future. The Paris Climate Agreement sent a clear signal that the age of coal, oil and gas is coming to an end. Now, the Obama Administration is starting to write the next chapter. If institutions don’t divest soon, they’ll be left holding onto sinking stocks from a sinking industry.
The President’s plan makes the Senate energy bill look outright backwards. If we’re serious about transitioning to a clean energy economy, we can’t be accelerating the approval of LNG export facilities or other fossil fuel infrastructure.”