On Thursday, Shell and TotalEnergies both doubled their quarterly profits to about $10bn. Oil and gas giants have enjoyed soaring profits as post-Covid demand jumps and after Russia’s invasion of Ukraine. The sector is expected to amass $4tn in 2022, strengthening calls for heavy windfall taxes to address the cost of living crisis and fund the clean energy transition.
Comment: Can you imagine the money power we are putting in the hands of Saudi Arabia to serve their interests and manipulate people, institutions and countries like putty. The full article: https://www.theguardian.com/environment/2022/oct/27/world-close-to-irreversible-climate-breakdown-warn-major-studies Roland. Toronto.
