00:00BP will continue to support those affected.
00:03In Ukraine, at the same time, we are helping ensure that the energy supply remains secure.
00:08In the face of Russia's destabilization, aggression, we need more oil and natural gas
00:12pipelines.
00:13What does the war in Ukraine have to do with US oil?
00:16These are America's top oil executives.
00:18Ever since Russia invaded Ukraine on February 24th, the fossil fuel industry has been insisting
00:24that the best way to stop the war is to drill for more oil and gas here in the US.
00:29I'm speaking on behalf of all of ExxonMobil.
00:31We stand with communities around the world in deploring Russia's aggression.
00:35They've been using tweets, op-eds, and many TV appearances to make a basic argument.
00:40Russia sells lots of oil and gas, Vladimir Putin is using that money to pay for the war
00:45in Ukraine, so more US oil and gas would mean less money for Russia.
00:49And they say the only thing holding them back is the US government and its regulations.
00:54But does this idea make any sense?
00:55I asked Kim Ong, an environmental law expert at NRDC.
00:59Those statements make no sense to me.
01:01And I think, if anything, the Ukraine war only shows us just how vulnerable we are when
01:07we're addicted to fossil fuels.
01:09Fossil fuels are the primary driver of climate change.
01:12And climate change results in increased severe weather patterns for people all across the
01:19world.
01:20Communities that are low income and communities of color.
01:22They're more likely to receive dirty air because they live near an oil refinery.
01:28Or they're more in danger of drinking contaminated drinking water because they live near a fracking
01:33well.
01:34And what the fossil fuel companies are asking us to do right now is to continue digging
01:39deeper into that hole.
01:40The fossil fuel industry does not need any help from the government.
01:44The oil and gas industry has reported record windfall profits these past few months because
01:49of the dramatic increase in gas prices and oil prices.
01:53The real long-term solution to this problem is investing in energy efficiency and renewable
01:58energy and weaning ourselves finally off of our addiction to oil and gas.
02:03In this time of war, it's not a time of profit.
02:07This crisis is another indication of why we need to get off dependency on fossil fuels.
02:11Okay, but what about Europe?
02:12In theory, the U.S. could export more oil and gas to Europe since they're so dependent
02:17on Russian oil.
02:18Sending more oil and gas to Europe would only fuel our problem and deepen our addiction
02:24to fossil fuels.
02:25The problem isn't a shortage of oil and gas leases.
02:28The fossil fuel industry is awash in those.
02:31What's interesting is that they are declining to use them.
02:35And that's because it's more profitable for them when oil and gas prices are high.
02:40And what about the soaring gas prices at the pump in the U.S.?
02:44Prices at the pump can't be controlled by the president.
02:46It's just so hard to control gas prices that it's not necessarily like a exact relationship
02:53between like producing more gas and getting lower prices.
02:57This chart shows the recent disconnect between the price that companies are paying for oil
03:04and the price that American consumers are paying at the pump.
03:07While the price of oil has dropped significantly from the peak, the price that Americans are
03:14paying at the pump has not.
03:16The war is funded by oil and gas.
03:19We can step away from fossil fuels, rid ourselves of this terrible addiction that's not only
03:25destroying our planet, but destroying the people who live on it.
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