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BP CEO tells oil industry they must ‘talk’ to officials who support the ‘Green New Deal’

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The oil industry should engage with proponents of the “Green New Deal,” a Democratic initiative seeking to radically reduce U.S. dependence on fossil fuels, BP Chief Executive Officer Bob Dudley said on Tuesday.

Dudley made the rare foray into U.S. politics in a keynote speech at the largest U.S. annual gathering of the oil and natural gas sector in Houston, urging peers to engage with young people or lose the trust of society.

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“We need to demonstrate that we share the common goal of a low-carbon future and that we are in action toward it,” Dudley said in the speech at the CERAWeek conference by IHS Markit.

Burning of oil and gas accounts for the majority of greenhouse gas emissions blamed for climate change, rising sea levels and severe storms.

Energy companies including BP have increased their investments in renewable energies such as solar and wind in recent years as they look for a new business model in a world seeking to reduce carbon emissions.

But U.S. rivals Exxon Mobil and Chevron have made fewer investments in clean energy in recent years, drawing growing pressure from investors and climate activists.

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“Our focus has to be on developing an energy system that is cleaner, better and kinder to the planet,” Dudley, a U.S. citizen, said.

“But we can only fully play our part if we have the trust of society and the confidence of our shareholders. That means engaging more with the young people who will take to the streets on Friday,” he said, referring to scheduled protests in more than 70 countries where kids plan to skip school to demand more action on climate change.

“It means improving the dialogue we have with policymakers around the world, including those behind the Green New Deal,” Dudley said.

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The “Green New Deal” resolution was introduced earlier this year, seeking to create large, government-led investments in clean energy, infrastructure and social programs.

Republican lawmakers oppose the proposal, saying it is too expensive and would raise taxes and energy costs. Republican President Donald Trump’s administration opposes action on climate change and favors boosting U.S. production of oil, gas and coal.

Dudley said demand for oil and gas will remain strong for decades as the world’s population grows and economies such as China and India expand.

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Reporting by Ron Bousso; Editing by Chris Reese


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Wall Street is ignoring the omens of recession — here’s why

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The Federal Reserve seems a lot more concerned about the state of the economy than it’s been letting on.

The Fed lowered its target interest rate by a quarter point on Sept. 18, the second such cut since July – and the first reductions since the Great Recession more than 10 years ago.

Judging by the words of Fed Chair Jerome Powell, this isn’t that big a deal. In his statement following the decision, he said: “We took this step to help keep the U.S. economy strong in the face of some notable developments and to provide insurance against ongoing risks.”

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2020 Election

Elizabeth Warren accuses Congress of complicity in Trump’s continued abuses

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Sen. Elizabeth Warren accused the U.S. Congress of complicity in President Donald Trump's continued abuse of power late Friday, after reports surfaced of his alleged attempts to solicit foreign meddling in the 2020 presidential election, and reiterated her demand that Democrats use their majority in the House to pursue impeachment.

Warren's tweeted statement came hours after the Wall Street Journal reported that Trump urged Ukrainian President Volodymyr Zelensky to investigate former Vice President Joe Biden's opposition to a Ukrainian prosecutor in 2016.

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‘Resistance’ liberals love the FBI and CIA — but history says they don’t love you back

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A freaky moment recently transpired on television. In a nonfiction adaptation of “American Horror Story,” Bill Maher, nominally a member of the liberal “Resistance,” led his audience and guests in applauding and paying tribute to the FBI and CIA. To her credit, panelist (and rival talk-show host) Krystal Ball remained stoic, refusing to bring her hands together or smile. But even she allowed the moment to pass without noting the obvious: The CIA and the FBI are two of the most anti-democratic and violent forces in the history of our country.

Maher’s weird and historically illiterate “tribute” to two organizations with endless résumés of human rights violations, political persecution of dissidents and overseas coups directed at democratic governments — not to mention stunning failure at the principal tasks of their mission — punctuated his declaration of gratitude for “our safety” since the attacks of Sept. 11, 2001. The comedian and commentator then tried to dress this right-wing, jingoistic bromide in progressive drag by reminding the crowd that President Trump has “disrespected” both agencies.

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