Blog

The world’s five largest international oil companies (IOCs) and five largest U.S. independent refiners made over US$65 billion in profits in the second quarter of 2026 as conflicts in the Persian Gulf and Ukraine spiked oil prices and caused refined fuel supply constraints. As thousands die in the relentless bombardments of drones and ballistic missiles, the oil and gas industry reaps windfall profits in a year that was looking to be a loser before the bombs started falling.

The Republican assault on hard-working American families and the environment reached an unprecedented level late on Friday night

Communities in Houston, Florida, Louisiana, Puerto Rico, and California are just beginning the long road to recovery from disasters made worse by climate change. It would seem downright irresponsible to increase taxpayer handouts to spur fossil fuel production at a time like this. But that’s exactly what’s being proposed in Washington.