Giant fossil fuel companies made about $12,000 in the time it took you to read this headline

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🗞️ Driving the news: Six major oil giants, including ExxonMobil, Shell and BP, are projected to generate nearly $3,000 in profit every second in 2026, as global energy prices surge amid geopolitical tensions

🔭 The context: According to Oxfam International, combined profits for these companies could reach around $94 billion this year
• The spike is driven by disruptions linked to the Iran conflict, particularly around the Strait of Hormuz, a critical chokepoint for global oil supply
• Meanwhile, households worldwide are facing rising fuel costs, inflation, and broader cost-of-living pressures

🌍 Why it matters for the planet: The surge highlights a persistent paradox: fossil fuel profits rise during crises, even as climate risks intensify
• High prices can both delay and accelerate the energy transition
• While they may incentivize clean energy investment, they also reinforce reliance on oil and gas in the short term and deepen inequalities between producers and consumers

⏭️ What’s next: Continued geopolitical instability could sustain elevated profits for fossil fuel companies
• At the same time, pressure may mount on governments to introduce windfall taxes, subsidies, or accelerated clean energy policies to protect consumers and reduce dependency on volatile fossil fuel markets

💬 One quote: “Fossil fuel corporations profit from geopolitical instability and subsequently inequality.” — Mariana Paoli

📈 One stat: These six companies are expected to generate about $2,967 per second, equivalent to roughly $12,000 during the time it takes to read a headline

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