Olivia Rosane is a staff writer for Common Dreams.
A little more than a week after Earth endured its four hottest days on record, fossil fuel giant Shell announced higher second-quarter profits than expected at $6.3 billion. The company also announced a new share buyback program worth $3.5 billion through September, CNBC reported.
Shell's announcement also comes days after BP posted $2.8 billion in second-quarter profits. Global Witness calculated that BP and Shell's second-quarter profits combined would be enough to pay one-tenth of the $100 billion in climate-related loss and damage money that developing nations have requested by 2030. At the same time, the two oil giants' profits over the past year—£31.2 billion —exceed the £27.
Climate Emergency Climate Justice Extreme Heat Extreme Weather Fossil Fuels Hurricane Beryl Wildfires Shell
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