"The industry is substantially responsible for bringing us to the brink of disaster, following decades of climate denial, lobbying against action and pushing for continued government support," said Lorne Stockman.

"True energy security means affordable, reliable, and fossil-free energy for all communities," said Rees. "Congress should reject Big Oil and Gas’s cynical attempts to profit from human suffering and pass this bill immediately."

Released today, the 13th annual Banking on Climate Chaos report, the most comprehensive global analysis on fossil fuel banking to date, underscores the stark disparity between public climate commitments being made by the world’s largest banks, versus the reality of their largely business-as-usual financing to the fossil fuel industry.

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.

Today, U.S. President Joe Biden and European Commission President Ursula von der Leyen announced a new task force to reduce Europe’s dependence on Russian fossil fuels. The announcement reveals that the EU and United States plan to expand LNG infrastructure in Europe. Recent research shows such new LNG import infrastructure is not needed.