last month, the commodity trader"reported record net profits of $5.5 billion in the first half of its financial year," over double the same period 12 months earlier, and"paid a record $3 billion dividend to be shared among about 1,200 shareholders," which"was up from $1.7 billion in the previous year.
"With this vote, we continue to fulfill EXIM's mission of supporting American exporters and jobs while advancing the Biden-Harris administration's climate efforts," said Reta Jo Lewis, the agency's chair and president."The approval of these two FIBC policies also builds on the U.S. commitment to help improve European energy security due to Vladimir Putin's unjustified war in Ukraine.
Green groups continue to condemn fossil fuel giants for taking advantage of the war as well as rich governments' support for the LNG industry, which theyis wrecking the planet, leaving the world's energy crisis unsolved, and setting the stage for stranded assets. Such critics also accuse self-styled climate champions like U.S. President Joe Biden of breaking their promises to tackle the global emergency.
"While extreme heat and environmental disasters from the continued use of fossil fuels ravage communities from coast to coast, the U.S. government is financing the companies contributing to the climate crisis,""The potentially hundreds of millions of dollars in support to Trafigura will only advance the further buildout of dirty and dangerous liquefied natural gas export facilities that perpetuate environmental injustices in Gulf communities," she stressed.