Fuel Companies Reporting Unprecedented Profits Should Pay for Climate Harm: UN

  • 📰 NBCDFW
  • ⏱ Reading Time:
  • 31 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 63%

Business News News

Business Business Latest News,Business Business Headlines

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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Globalist commies are on the march.

Nationalize our oil, pay for healthcare and climate change.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 288. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

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. They'll just raise the prices more. Any tax, fee, penalty or payment you impose upon fossil fuel companies will just be passed on to the consumer driving prices higher. Just the thought of higher taxes creating a lower bonus could cause a CEO to increase prices 5% or more overnight. Shut your mouth… taxing these companies meant passing the tax to consumers… better nationalise them to get red of profiteers and bogus taxes
Source: cnnbrk - 🏆 393. / 55 Read more »