30 trillion reasons to make Big Oil pay up

30 trillion reasons to make Big Oil pay up

Since the mid-1980s, the 25 largest oil and gas companies around the world have fought climate policies tooth and nail, making US$30 trillion in the process, according to a study published Thursday.

The analysis from German-headquartered Climate Analytics also calculated the climate-related damages from the emissions of the oil and gas companies and found those 25 fossil fuel companies were responsible for approximately US$20 trillion worth of destruction. In other words, the “carbon majors” responsible for the crisis at hand knowingly spent decades that could have been used to avoid disastrous global warming to make so much money they could have paid their “fair share” of climate-related damages and still pocketed US$10 trillion, according to the report.

Read more: nationalobserver.com

Photo: nationalobserver.com

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