Read the latest insights and analysis from the experts at Oil Change International.
Although we are only in May, it has already been a brutal fire season in the Pacific Northwest of Canada and the USA. In Canada, millions have already endured record-breaking temperatures in excess of 90F (32 degrees) this month.
Oil giant Shell has just posted record profits for a second consecutive quarter, smashing its previous record from earlier this year.
On the back of spiralling gas prices, the oil giant Shell today announced it had quadrupled its profits to over £14.2bn in 2021. Ben van Beurden, Shell’s chief executive, who received a pay package of more than €6 million last year, said 2021 had been a “momentous year” for the business.
As Big Oil loses billions, the global ratings agency, S&P has announced it was placing ExxonMobil, Chevron, Shell and Total on a so-called “credit watch”.
Fossil fuel companies operating in the U.S. and Canada made $271 billion dollars in profit in 2012, while continuing to receive billions in subsidies.
