Big Oil's Record Profits and Buyback Splurge Spotlight 'Broken Energy System,' Critics Say

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Big Oil's Record Profits and Buyback Splurge Spotlight 'Broken Energy System,' Critics Say
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Fossil fuel giants raked in billions in profits last quarter 'by gouging people at the gas pump,' said jamieclimate. 'Why on Earth are we still subsidizing Big Oil?'

repeatedly that investing in new oil and gas projects is incompatible with the Paris agreement's goal of limiting global warming to 1.5ºC.

Total"is responsible for some of the most destructive fossil fuel projects on the planet, including the controversial East African Crude Oil Pipeline [EACOP] and fracking across Vaca Muerta, Argentina," 350.orgThursday's announcement"shines a spotlight on the moral bankruptcy and danger posed by oil majors," the group continued.

The project is"facing sustained resistance locally and globally due to the threat it poses to communities and their livelihoods as well as expected negative impacts on the environment and sensitive ecosystems in Uganda and Tanzania," Elmawi added."We can stop EACOP and the wave of destruction it is set to leave in its wake, if we stop the flow of finance to Total."Charity Migwi, Africa regional campaigner at 350.

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