Russian Oil Ban Good First Step, Now US Must Accelerate Transition to Cleaner, More Secure Economy

WASHINGTON (March 8, 2022) – Today, President Biden issued an executive orderprohibiting oil imports from Russia, while the European Union also announced a sweeping proposal to get off Russian oil and speed up deployment of renewable energy.

Following is a statement from Bob Keefe, executive director of the national nonpartisan business group E2:

“President Biden’s executive order is the right thing to do and solidifies our support for the people of Ukraine. But it’s just a first step to lessen our dependence on oil and the foreign governments that control it.

“The best way we can reduce our dependence on oil and gas and the high costs we’re paying for it is to make it cheaper for Americans to buy more made-in-America solar and wind energy and electric vehicles. The legislation that will do just that is written, it’s waiting for a vote, and it’s past time to act.

“President Biden and Congress must get back together and pass climate and clean energy legislation now, and seize this opportunity to join with the European Union to lead the world’s transition to a cleaner, more secure economy.”

In February, more than 150 E2 members and other business leaders from across the country sent this letter to President Biden urging him to refocus and redouble his efforts with Congress to pass climate and clean energy investments and programs already approved by the House. 

For more information also see these links:

• E2 FACTSHEET: Costs of climate change; benefits of climate action
• Details and data about the economic costs of climate change.
• Details on clean energy jobs, including data sorted by sector for every state, metro area and congressional district.
• E2’s annual Clean Jobs America report.
• E2’s Clean Jobs, Better Jobs report detailing wages for clean energy and fossil fuels jobs.
• Other E2 state and national reports.

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E2 (Environmental Entrepreneurs) is a national, nonpartisan group of business leaders, investors, and professionals from every sector of the economy who advocate for smart policies that are good for the economy and good for the environment. Our members have founded or funded more than 2,500 companies, created more than 600,000 jobs, and manage more than $100 billion in venture and private equity capital. For more information, see www.e2.org or follow us on Twitter at @e2org.