Shell's climate wrecking profits show urgent need for action

The world is burning but oil giants like Shell are making record profits

The obscene and climate wrecking profits of oil giant Shell underline the need for a rapid and global shift to renewable energy, say the Scottish Greens who have called for “all hands on deck” as we transition away from fossil fuels.

This morning oil giant Shell reported quarterly profits of $9.65 billion, which was well ahead of forecasts.

The Scottish Greens energy and environment spokesperson, Mark Ruskell MSP said:

“These are climate wrecking profits, with every pound taking us another step closer to environmental breakdown. The world is burning but the fossil fuel giants have never had it so good.

“We can’t go on like this. The problem isn’t just companies like Shell, it’s the governments and system that support them and allow them to do so much damage.

“The best time to have taken the radical climate action we need would have been decades ago, the next best time is right now. It has to be all hands on deck. What we need is a rapid and irreversible shift to renewable energy.

“The system is broken and the only ones benefiting are the multinational polluters. All over the country there are households and families who have been plunged into fuel poverty, they cannot afford business as usual.

“That means closing the loopholes in the so-called windfall tax and taxing these companies properly. But, more than that, it means working for the climate by decarbonising our economy and reducing our emissions.

“Yet, while millions around the world are feeling the devastating impact of the climate crisis, we have a Prime Minister who is set to approve 100 new oil and gas exploration licences in the North Sea. This would be unforgivable climate vandalism.

“This generation of politicians and leaders has the resources and the expertise to do things differently. We still have the chance for a just transition away from the fossil fuels that have done so much damage. It is an opportunity that we must take.”

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