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 year’s meeting, COP27, will take place from 6-18 November 2022 at the luxury resort of in Sharm el-Sheikh in Egypt.
This morning in the luxurious Plaza Hotel in Brussels, many of the world top oil firms assembled for a conference on “Go Net Zero Energy.” But newly released internal documents reveal that Big Oil messaging on climate change and net zero are based on spin and “deception”.
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.
Hundres of thousands of Americans, concerned about climate change and increasingly shocked at how much they are paying at the pump for their gas, are voting with their feet and ditching their gas-guzzling vehicles and going electric.
Despite an array of new ‘net zero’ 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.
“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.
New analysis finds that revenues from oil and gas projects backed by European and U.S. companies have fueled Vladimir Putin’s regime to the tune of nearly USD 100 billion since 2014.
Just eight of the world’s biggest energy companies helped enrich Vladimir Putin’s war chest to the tune of $95.4 billion (USD) in the seven years after Russia annexed Crimea.
“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.
For decades Big Oil courted Putin and helped him exploit Russia’s vast reserves. Big Oil poured billions into Russia’s war chest with devastating consequences.