Largest US oil trade group to sue to block Biden's EV push

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Largest US oil trade group to sue to block Biden's EV push

https://finance.yahoo.com/news/largest-us-oil-trade-group-090632457.html

The nation's largest oil trade group, which includes Exxon Mobil and Chevron , will file a federal lawsuit on Thursday seeking to block the Biden administration's efforts to reduce planet-warming emissions from cars and light trucks and encourage electric vehicle manufacturing, the group said. The U.S. Environmental Protection Agency issued new tailpipe emission rules in March that will force the nation's automakers to produce and sell more electric vehicles to meet the new standards. The American Petroleum Institute (API) says the EPA has exceeded its congressional authority with a regulation that will eliminate most new gas cars and traditional hybrids from the U.S. market in less than a decade.

Largest US oil trade group to sue to block Biden's EV push