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Thursday, June 27th, 2024

Inside Big Oil’s Business as Usual: Climate Failure and War Profits

Author:     STELLA LEVANTESI
Source:     truthdig
Publication Date:     JUN 24, 2024
 Link: Inside Big Oil’s Business as Usual: Climate Failure and War Profits
Stephan:  

This report, and the factual data upon which it is based, is telling us that everything being done about climate change is not going to stop humanity from crossing the 2°F threshold into civilization-changing catastrophe. And why is that? Because the few hundred people who make the decisions about the carbon power industries care more about their profits than they do about humanity itself. It is my personal belief that the governments of the world should pass legal standards to force these corporations to meet the limits needed. And if they do not within a year these men and women should be arrested wherever they are and tried for crimes against humanity that are leading to mass death and the destruction of the matrix of life.

Credit: Adobe

Oil majors are not on track to hit Paris Agreement climate targets that limit global temperature rise to 1.5°C, a new report reveals.

Eight fossil fuel giants – Chevron, ExxonMobil, Shell, TotalEnergies, BP, Eni, Equinor, and ConocoPhillips – are on course to use 30 percent of the world’s remaining carbon budget for that 1.5°C goal, according to the Big Oil Reality Check report by nonprofit Oil Change International (OCI).

Combined, the oil and gas companies’ extraction plans are consistent with a temperature rise of over 2.4°C, the report found. That level of warming, according to the Intergovernmental Panel on Climate Change, will reduce food security, risk irreversible loss of ecosystems, and increase heat waves, rainfall, and extreme weather events.

“We analyzed the climate promises and plans of the largest eight international oil and gas companies that are owned in North America and Europe. What would it take for an oil and gas producer to align their production with limiting warming to 1.5?” David Tong, global industry […]

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