Whilst much of the world’s media attention is focussed on Putin’s illegal and horrendous war in Ukraine, our daily climate emergency has slipped from the headline news agenda. But what is happening in the Arctic and Antarctica is alarming scientists and activists alike.
As American families continue to be hammered by skyrocketing gasoline prices, U.S. oil and gas companies are poised to reap tens of billions in windfall profits thanks to high wartime prices.
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.