The good people at HEATED have done it again.
In attempting to help us understand just how much profit the oil companies are bringing in, they put together this revealing article. Some of the more notable things that 3 months of Big Oil’s (Shell, Exxon, Chevron) profits could do:
- End world hunger for a year
- End US homelessness for about four years
- Pay for King Charles’ coronation 260.8 times
- Pay for Supreme Court Justice Clarence Thomas to go “island-hopping in a volcanic archipelago on a superyacht staffed by a coterie of attendants and a private chef” 62,500 times.
To add to that is the finding from advocacy group Climate Power that:
“Despite record gains, most of the top U.S. oil and gas companies paid little to no taxes in 2021 and 2022. None of the companies we tracked – including Exxon and Chevron – paid the full statutory 21% corporate income tax rate. If every company had, it would have generated an additional $21.2 billion in revenue for the federal government.”
Although HEATED’s article is mostly US-focused, many fossil fuel companies have operations in countries around the world. Organizations like Climate Power in the US and 350.org internationally can help you learn about ways to join the fight against Big Oil and make informed choices.