There is universal condemnation today on the breaking news that the United Arab Emirates has appointed a veteran oil industry insider to preside over the upcoming UN climate talks that will happen later this year in Dubai. “By appointing an oil sultan as COP28 President, the UAE takes the prize for global trust breaker in a climate crisis.”
fossil fuel companies
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 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.