Big oil privately acknowledged efforts to downplay climate crisis, joint committee investigation finds

illuminem summarizes for you the essential news of the day. Read the full piece on The Guardian or enjoy below:

🗞️ Driving the news: Internal documents revealed by the House Oversight Committee show that major oil companies have lobbied against climate laws they publicly claimed to support, while acknowledging the dangers of fossil fuels privately

🔭 The context: The committee's report summarizes subpoenaed communications from companies like Exxon, Shell, BP, and Chevron, which show a significant divergence between their internal and public positions on climate change 
• These revelations build on past reports, highlighting that despite their public support for climate initiatives, these firms have downplayed the feasibility of such measures internally and actively lobbied against them

🌍 Why it matters for the planet: The contradictory actions of these companies undermine global climate efforts, revealing how they prioritize their business models over environmental concerns 
• This inconsistency has led to continued use of fossil fuels, hindering progress towards limiting global warming and achieving climate targets

⏭️ What's next: The report's findings may bolster existing lawsuits against the oil industry for its misleading practices 
• It also pressures fossil-fuel companies to align their actions with their stated goals and supports greater accountability in addressing climate change

💬 One quote: "For decades, the fossil-fuel industry has known about the economic and climate harms of its products but has deceived the American public to keep collecting more than $600bn each year in subsidies while raking in record-breaking profits," said Rhode Island Democrat Sheldon Whitehouse.

📈 One stat: The fossil-fuel industry has collected over $600 billion annually in subsidies despite contributing to climate harms.

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