Amongst the barrage of near-constant lousy news on the climate, from record rain bombs and flooding to relentless heat domes and wildfires, comes historic great news.
Chevron
New briefing: Oil and gas industry on brink of major surge in expansion ā new drilling plans approved through 2025 could exhaust 17% of the global carbon budget for 1.5Ā°C
The new briefing, titled āInvesting in Disasterā,Ā exposes the countries and companies that have approved the most new oil and gas extraction in 2022, and that could be responsible for major expansion through 2025.
Investing in Disaster: Recent and Anticipated Final Investment Decisions for New Oil And Gas Production Beyond the 1.5Ā°C Limit
The briefing reveals that new oil and gas production approved to date in 2022 and at risk of approval over the next three years could cumulatively lock in 70 billion tonnes (Gt) of new carbon pollution. This is equivalent to almost two yearsā worth of global carbon emissions from energy at current levels, 17 percent of the worldās remaining 1.5Ā°C carbon budget, or the lifecycle emissions of 468 coal power plants.
Weeks before COP27, Big Oil remains in state of ādeceptiveā climate denial
Its that time of year again with the annual UN climate meeting, called the conference of the Parties, or COP, just a couple of weeks away. This yearās meeting, COP27, will take place from 6-18 November 2022 at the luxury resort of in Sharm el-Sheikh in Egypt.
Calls grow for a U.S windfall tax after Exxon makes USD $2,245.62 every second
The amounts are obscene. They are mindboggling. This is profit-making like you have never seen it before. It is also profiteering from war or price goughing at our expense. Big Oil is making billions off the misery of millions.
Updated analysis reveals oil industry climate plans are grossly insufficient to achieve Paris Climate Goals
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 companiesā investments could create an additional 8.6 billion tonnes (Gt) of carbon pollution ā equivalent to the lifetime emissions of 77 new coal power plants.
Big Oil Reality Check āĀ Updated Assessment of Oil and Gas Company Climate Plans
Despite an array of new ānet zeroā pledges released in the past two years, the climate promises of major U.S. and European oil and gas companies still fail to meet the bare minimum for alignment with the Paris Agreement, according to a new study.
Obscene Q1 profits from Exxon, Chevron underscore need for a windfall profits tax
“Congress must crack down on Big Oil’s insatiable greed by taxing these windfall profits and moving the United States and the world to renewable energy as quickly as possible,” said Collin Rees.
U.S. Oil and Gas Companies Set to Make Tens of Billions More from Wartime Oil Prices in 2022
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.
U.S. Oil and Gas Companies Set to Make Tens of Billions More from Wartime Oil Prices in 2022
With oil prices rising to near-record levels due to Russiaās 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.