Washington, D.C. – In recent public statements to investors, the world’s largest oil companies have admitted the oil and gas industry is dying. Yesterday, Shell disclosed that its total oil production peaked two years ago and would continue to decline annually. Last year, BP announced that it would cut oil and gas production 40 percent by the end of this decade. The largest oil companies continued their pre-pandemic decline and lost tens of billions of dollars last year, even as most large companies in the U.S. remained profitable.

Nevertheless, Big Oil’s front group, the American Petroleum Institute (API), tells a different story to policymakers and the public. API has pulled out its playbook from the past and continues to launch false and misleading attacks on clean energy and climate action. Notably, API also opposes forcing corporations to disclose their climate risks, a step that would further expose the oil and gas industry’s tenuous future.

“Some of the world’s largest oil companies have finally acknowledged the truth: the future lies in clean energy,” said Climate Power Executive Director Lori Lodes. “But API, the oil and gas companies’ front group, is running a disingenuous propaganda campaign to stymie President Biden’s bold actions on climate and plans to build back better with clean energy. Instead of blaming Biden for the oil and gas industry’s declining fortunes, API should admit that the numbers just don’t add up anymore.”

API’s Track Record of Lies and Misinformation

API’s Track Record of Misleading Ad Campaigns

API’s Record of Supporting Climate Deniers and Election Objectors