United Nations Secretary-General António Guterres criticized the industry for trying to 'lock in a high carbon future.'
Guterres to declare that the world, but particularly rich nations most responsible for pollution, “must triple the speed of the shift to renewable energy.”
“That means moving investments and subsidies from fossil fuels to renewables — now,” he said at the time. “In most cases, renewables are already far cheaper. It means governments ending the funding of coal, not just abroad, but at home.” Climate campaigners and progressive U.S. lawmakers have accused fossil fuel giants of using the war to price gouge consumers while filling the pockets of top executives and shareholders. Members of Congress are weighing a windfall profits tax intended to prevent such behavior by companies while providing relief via rebates to peopleFriday, Chevron and ExxonMobil announced that their profits soared during the first quarter of this year — to $6.3 billion and $5.
“This is robbery,” asserted Fossil Free Media director Jamie Henn, calling on Congress to pass a tax bill. “Big Oil is intentionally profiteering off the war in Ukraine — a crisis they helped create by working with Putin for decades to expand Russian oil and gas production.” This piece was reprinted by Truthout with permission or license. It may not be reproduced in any form without permission or license from the source.
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