Revealed: major oil firms make $93bn profits amid war and climate crisis
Iran conflict windfall over three months reignites calls for companies ‘cashing in on human misery’ to pay for environmental damage
Eight of the biggest oil companies amassed profits of more than $90bn (£67bn) in just three months as the Iran conflict sent energy prices soaring and the emissions-fuelled climate crisis caused deadly heatwaves.
The windfall war profits have reignited calls for oil and gas supermajors such as Saudi Aramco and BP to pay for the environmental damage caused by “cashing in on human misery” and fund a rapid transition to renewable energy.
Guardian analysis found that the eight listed oil producers made almost $93bn (£69bn) in the three months to the end of June – the first full financial quarter after the US-Israeli war on Iran triggered a surge in global oil prices to highs above $126 a barrel.
https://www.theguardian.com/business/ng-interactive/2026/aug/04/revealed-major-oil-firms-make-93bn-profits-amid-war-and-climate-crisisOpen linkView original on lemmy.world
3 replies
I was so very worried about them. I am so thankful they can burn the world down and make a fine profit.
Good to know that we're all in it together! /s These bastards are directly leading to the most vulnerable in society starving or being unable to live safely. It's not just war that destroys people.
Yeah! I'm sure after this huge cashout they'll totally get right on that.
Maybe the nations of the world can stop shooting at each other...And instead agree to point all their guns at the heads of the oil industry.