As the world grapples with the urgent need to address climate change and transition to sustainable energy sources, North America finds itself at a critical crossroads. At the heart of the region’s growing energy crisis lies the influence of Big Oil—an industry that has long shaped energy policy, economic development, and public perception. While these corporations have contributed significantly to North America’s industrial growth and energy security, their continued focus on fossil fuel production is increasingly at odds with environmental and economic sustainability.
A Legacy of Influence
Big Oil companies, including ExxonMobil, Chevron, Shell, and others, have held tremendous sway over North American energy policies for decades. Through lobbying efforts, campaign contributions, and strategic partnerships with governments, these companies have helped craft regulations that favor oil exploration and production. Subsidies and tax breaks have allowed them to maintain profitability even during periods of market volatility, reinforcing oil’s dominant role in the energy mix.
This deep entrenchment has made it difficult for renewable energy alternatives to compete on equal footing. Despite the declining costs of solar and wind power, Big Oil’s influence ensures that fossil fuels remain subsidized and prioritized, hindering meaningful progress toward a cleaner energy economy.
Delaying the Transition
Big Oil’s role in delaying the transition to renewable energy is perhaps the most critical aspect of North America’s energy crisis. While many oil giants now tout investments in clean energy, these investments often represent a small fraction of their overall spending. In reality, most of their capital continues to flow into new oil and gas projects, even as climate scientists warn of the need to leave much of the world’s fossil fuel reserves in the ground.
Moreover, several oil companies have been accused of downplaying or denying the impacts of climate change, despite having internal research that confirmed its risks. This strategy has sown public confusion and delayed decisive policy action, allowing oil consumption and emissions to continue rising.
Economic and Environmental Consequences
The continued dominance of Big Oil comes at a steep price. Economically, North America’s dependence on oil exposes it to market shocks caused by geopolitical conflicts, supply chain disruptions, and global price swings. Environmentally, the extraction, refinement, and burning of oil contribute heavily to air and water pollution, biodiversity loss, and climate change.
Oil spills, pipeline leaks, and industrial accidents have left a lasting scar on ecosystems and communities, from the Gulf of Mexico to the Canadian tar sands. Meanwhile, rising global temperatures threaten infrastructure, agriculture, and public health—costs that are increasingly borne by taxpayers rather than oil companies.
The Need for Accountability and Reform
To address the energy crisis, North America must hold Big Oil accountable and reorient its energy policies toward sustainability. This includes ending fossil fuel subsidies, implementing strict emissions regulations, and increasing support for clean energy innovation. Transparency around lobbying activities and climate risk disclosures should be mandatory, and oil companies must be required to take responsibility for their environmental impact.
Conclusion
Big Oil has played a central role in shaping North America’s energy landscape—but its continued grip on power is a major barrier to progress. Solving the growing energy crisis will require breaking this dependency, accelerating the transition to renewables, and building a system that prioritizes people and the planet over profit.