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Big Oil Battles Biden: Chevron, Exxon Challenge EV Emission Rules

The nation’s largest oil companies, Chevron Corporation (NYSE:CVX) and Exxon Mobil Corporation (NYSE:XOM), reportedly plan to file a federal lawsuit on Thursday to oppose the Biden administration’s efforts to cut emissions from cars and light trucks and promote electric vehicle manufacturing. The lawsuit will be filed in the D.C. Circuit Court of Appeals, reported Reuters.   In March, the U.S. Environmental Protection Agency issued new tailpipe emission rules requiring the nation’s automakers to increase production and sales of electric vehicles to comply with the standards. The agency aims for up to 56% of all car sales to be electric between 2030 and 2032. The American Petroleum Institute (API) argues that the ...