Last year the five largest western oil and gas companies – Exxon, Chevron, Shell, British Petroleum and TotalEnergies – made combined 200 billion dollars in profits, the year was the most profitable in their histories. President Biden said that the profits were “outrageous” and he criticized the companies for enriching the shareholders instead of helping to alleviate rising gasoline costs for drivers. António Guterres, secretary-general of the UN, also criticized the “monster profits” of the fossil fuel companies and said, “If you cannot set a credible course for net-zero [emissions], with 2025 and 2030 targets covering all your operations, you should not be in business. Your core product is our core problem. We need a renewables revolution, not a self-destructive fossil fuel resurgence.”
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