But who will clean up the mess?
Posted in: UncategorizedOil and gas companies remain among the most profitable corporations in the world, largely because of externalized costs.
Exxon CEO Rex Tillerson makes more than $100,000 a day.
Oil and gas companies remain some of the most profitable corporations in history, with the top five oil companies pulling in $900 billion in profits from 2001 to 2010. These companies are rich, quite simply, because they have dumped the cost of cleaning up their mess onto regular people around the world. It is this situation that needs to change.
And it will not change without strong action. For well over a decade, several of the oil majors have claimed to be voluntarily using their profits to invest in a shift to renewable energy. But according to a study by the Center for American Progress, just four percent of the Big Five’s $100 billion in combined profits in 2008 went to “renewable and alternative energy ventures.” Instead, they continue to pour their profits into shareholder pockets, outrageous executive pay.
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