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The report finds the oil and gas majors are involved in over 200 expansion projects on track for approval from 2022 through 2025. If they go forward, these companies’ investments could create an additional 8.6 billion tonnes (Gt) of carbon pollution – equivalent to the lifetime emissions of 77 new coal power plants.
"Big Oil is gouging working families, and it’s critical to hold these companies accountable for their exploitative profiteering," said Collin Rees.
"Voters will reward politicians who stand up for people, not polluters, and taxing windfall profits is wildly popular in every part of the country," said Collin Rees.
Russia’s war in Ukraine and fuel price spikes mean international public finance institutions must roll out rapid decarbonization and aid packages, not back track by locking in new fossil infrastructure
"The EU's new international energy strategy is woefully inadequate and would lock in decades' more extraction of deadly gas and oil," said Collin Rees.