BP, Chevron, ExxonMobile and Shell made almost $2tn in profits over the last 30 years. The role of their 'greenhouse gases' has been known for this period of time. Because prices are currently high, oil and gas are extraordinarily profitable. In spite of widespread concerns about climate change, these colossal payouts are apparently proving irresistable to big oil and their backers (
https://www.theguardian.com/environment/ng-interactive/2022/may/11/fossil-fuel-carbon-bombs-climate-breakdown-oil-gas). The biggest fossil fuel firms are quietly planning almost 200 gigantic oil and gas projects. Each of these 200 so-called 'carbon bombs', will result in at least 1bn tonnes of carbon dioxide over its lifetime. Many, of course, will also liberate methane, an even more potent 'greenhouse gas'. In total, these projects will produce as much carbon dioxide as can be currently generated by the entire planet over 18 years. Sixty percent of these projects are already pumping. Catastrophic climate breakdown looks inevitable, if these developments continue. Bizzarely (given the expressed concerns of their populations and 'pledges' by their politicians), Australia, Canada and the US have the biggest expansion plans. These countries also give the biggest per capita subsidies for fossil fuels. The behaviour of the oil giants (and their financial and political backers) is reminiscent of that of a drug addict. Profits before survival?
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