Big Oil's Record Profits and Buyback Splurge Spotlight 'Broken Energy System,' Critics Say

Canada News News

Big Oil's Record Profits and Buyback Splurge Spotlight 'Broken Energy System,' Critics Say
Canada Latest News,Canada Headlines
  • 📰 commondreams
  • ⏱ Reading Time:
  • 41 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 51%

Fossil fuel giants raked in billions in profits last quarter 'by gouging people at the gas pump,' said jamieclimate. 'Why on Earth are we still subsidizing Big Oil?'

repeatedly that investing in new oil and gas projects is incompatible with the Paris agreement's goal of limiting global warming to 1.5ºC.

Total"is responsible for some of the most destructive fossil fuel projects on the planet, including the controversial East African Crude Oil Pipeline [EACOP] and fracking across Vaca Muerta, Argentina," 350.orgThursday's announcement"shines a spotlight on the moral bankruptcy and danger posed by oil majors," the group continued.

The project is"facing sustained resistance locally and globally due to the threat it poses to communities and their livelihoods as well as expected negative impacts on the environment and sensitive ecosystems in Uganda and Tanzania," Elmawi added."We can stop EACOP and the wave of destruction it is set to leave in its wake, if we stop the flow of finance to Total."Charity Migwi, Africa regional campaigner at 350.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

commondreams /  🏆 530. in US

Canada Latest News, Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Big Oil Has Spent Over $200 Million in 1.5 Years to Sabotage Climate ActionBig Oil Has Spent Over $200 Million in 1.5 Years to Sabotage Climate ActionThe oil and gas industry has spent more than $200 million over the past year and a half to stop Congress from slashing carbon emissions.
Read more »

Since 2021, Big Oil Has Spent Over $200 Million to Sabotage Climate Action: AnalysisSince 2021, Big Oil Has Spent Over $200 Million to Sabotage Climate Action: AnalysisNearly 80% of the oil and gas industry's campaign donations went to Republican candidates, according to ClimatePower.
Read more »

Fed unleashes another big rate hike in bid to curb inflationFed unleashes another big rate hike in bid to curb inflationThe Federal Reserve raised its benchmark interest rate by a hefty three-quarters of a point for a second straight time in its most aggressive drive in three decades to tame high inflation.
Read more »

16th Birthday Gift Ideas to Celebrate the Big Sweet Sixteen16th Birthday Gift Ideas to Celebrate the Big Sweet SixteenCue the Hilary Duff song…
Read more »

The Bigger The Better; These Big Hairstyles Will Bring Your Dull, Dry Hair To Life | Fashionisers©The Bigger The Better; These Big Hairstyles Will Bring Your Dull, Dry Hair To Life | Fashionisers©Big hairstyles are all about having voluminous and extra-dimensional hair. Any hairdo that is elevated like a high bun or has a great spread like a good
Read more »



Render Time: 2025-03-04 18:29:58