Ro Khanna: ‘If Oil Companies Had Been Honest About Global Warming’ We’d Have Much More Stable Prices

EXCERPT:

KHANNA: "Well, Becky, I think that’s not what the position of the party is. The position is that we want to diversify. Look, if the oil companies had been honest about global warming and had diversified since the 1970s, we would have had much more stable prices I don’t see there any problem to say 1%, 2% of your long-term investments should be in renewables and diversification. And the export ban would work for two reasons. Here's what the oil companies would say. They would say, 'We make light shale oil right now here. We don’t produce the crude oil, most of our refineries are for crude oil.' But you could have a one-to-one exchange of the light oil to crude oil. And you could have an exception for some of our European allies, I agree with you there. But why are we sending the oil out to China? Why are we sending oil to other countries? We are an oil surplus country, and yet we are totally dependent on the global price. That doesn't have to be the case."