With oil prices rising to near-record levels due to Russia’s ongoing war in Ukraine, companies producing oil and gas in the United States are in line to make tens of billions in additional profits. Under conservative estimates, we find the U.S. upstream oil and gas industry will collect a windfall of $37 to $126 billion in 2022 alone.
Chevron
Oil Change International responds to new Big Oil Windfall Profits Tax bill in U.S. Congress
“With sky-high energy prices, it’s mind-boggling to allow the fossil fuel industry to rake in record profits at the expense of working families. What’s needed now is immediate relief for American consumers, which is what this commonsense windfall profits tax bill would provide,” said Rees.
#FreeDonziger: 900 days under house arrest for fighting Big Oil’s dirty pollution in Ecuador
Embedded into the story of the struggle against Big Oil in Ecuador is the American lawyer: Steven Donziger. His story adds another layer of torrid injustice in the fight to hold Big Oil accountable. His story needs to be told.
Big Oil’s terrible, horrible, no good, very bad week
It has been a terrible, horrible, no good, very bad week or so for Big Oil…and that’s a very good thing for our climate. Let’s recap: Last week, the International Energy Agency released the groundbreaking “Net Zero by 2050” report, which they described as “world’s first comprehensive study of how to transition to a net zero … Read More
Biden’s climate diplomacy mustn’t turn a blind eye to Big Oil’s “dirty footprints” in Africa
When President Joe Biden signed his first set of Executive Orders on Climate Change and cancelled the Keystone XL pipeline project soon after his inauguration, he sent a very clear message to the global fossil fuel industry: it’s no longer going to be business-as-usual with fighting the existential threat that climate change poses to humanity.
Spoiler alert: Big oil companies are still failing on climate
Being a “leader” among laggards doesn’t cut it when we’re in a climate emergency – a crisis that the oil and gas industry has done the most to cause.
Discussion Paper: Big Oil Reality Check — Assessing Oil And Gas Climate Plans
Our new discussion paper analyzes the current climate commitments of eight of the largest integrated oil and fossil gas companies, and reveals that none come close to aligning their actions with the urgent 1.5°C global warming limit as outlined by the Paris Agreement.
NYC youth and global frontline leaders disrupt Oil & Gas Climate Initiative greenwash soirée
Two days after hundreds of thousands marched through New York demanding action to confront the climate crisis, youth activists disrupted a greenwashing event attended by several oil major CEOs.
Oil & Gas Climate Initiative Draft Report: Bad Science, Full of Holes
Recent analysis shows that oil majors — including Oil & Gas Climate Initiative members — are set to spend hundreds of billions of dollars more on exploration and extraction of oil and gas that the world cannot afford to burn, eclipsing symbolic ‘low-carbon’ efforts.Â
Ending Amazon Crude Is “Key to Fossil-Free Movement”
Yesterday a coalition of some 50 environmental, indigenous and human rights groups sent an unprecedented letter to Californian policymakers and US-based corporations involved in the processing, use or financing of Amazon crude to “stem the influx of crude oil into the United States” from the region.