The fossil fuel industry, which is responsible for a large share of planet-warming gases, is 'feasting on hundreds of billions of dollars in subsidies and windfall profits while household budgets shrink and our planet burns.'
Oil companies in July reported unprecedented profits of billions of dollars per month. Exxon Mobil posted three months profits of $17.85 billion, Chevron of $11.62 billion and Shell of $11.5 billion.
With all the concrete and lack of green space in many areas, cities can be much hotter than the official temperature readings you might get at the airport — as much as 10-15 degrees Fahrenheit warmer. That can be dangerous and cities need to adapt, LX News climate storyteller Chase Cain explains. But University of Michigan environment dean Jonathan Overpeck called the effort to hold polluters accountable “a great idea.”
"Fiscal policy for major economies is generally not made at the United Nations," added veteran international climate negotiator Nigel Purvis of Climate Advisers.
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Fuel firms should pay for climate harm, UN leaders toldRich energy companies should be forced to fork over some windfall profits to aid victims of climate change and offset rising fuel and food costs, the U.N. secretary-general told world leaders Tuesday.
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Fuel firms should pay for climate harm, UN leaders toldThe fossil fuel industry — which is responsible for a large share of planet-warming gases — is “feasting on hundreds of billions of dollars in subsidies and windfall profits,' the U.N. secretary-general said.
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Tax fossil fuel companies 'feasting' on profits, UN chief urgesRich economies should hit oil and gas companies with new windfall taxes to provide help for countries suffering from climate change, and people struggling with soaring energy and food bills, UN Secretary General António Guterres said Tuesday.
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Ross: Is Patagonia's sale to a non-profit shameless exploitation of a tax loophole?Recently, the owner of Patagonia announced he would donate the whole company to a new non-profit organization that he set up. And this organization will collect and spend the company’s profits – on “social welfare.”
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