Big Oils monster profits and climate rollbacks
Last week, United Nations Secretary-General Ant\xf3nio Guterres called out oil companies for raking in \u201cmonster profits\u201d and expanding production instead of focusing on renewable energy.\n\n2022 was a record-breaking year for oil producers. According to the International Energy Agency, global gas and oil profits went from a recent average of $1.5 trillion to four trillion dollars last year alone. And in the wake of those profits many oil companies are walking back on climate-friendly pledges.\n\nToday on Front Burner, we\u2019ll be talking about why Big Oil is raking in so much cash, how long a fossil fuel resurgence could really last. \n\nGeoff Dembicki is an investigative climate reporter who has been following this closely for DeSmog and the author of The Petroleum Papers.