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      BP CEO Bernard Looney speaks during an event in London on February 12, 2020.

      'Twisted': BP and Shell CEOs See Pay Double as Workers Struggle to Heat Homes

      "Instead of allowing huge payouts to end up in the pockets of CEOs, the government must step in with a proper tax on the oil industry and its profits," said one campaigner.

      Kenny Stancil
      Mar 10, 2023

      Progressives are renewing their call to adequately tax Big Oil's windfall profits and executive bonuses after a pair of London-based fossil fuel giants reported that the pay packages of their CEOs doubled last year while working-class households suffered under the weight of soaring prices.

      BP said Friday that its CEO Bernard Looney received $12.1 million in 2022, up from $5.4 million the previous year. His compensation package included a $2.9 million cash bonus and $7.3 million in company stock. BP's profits doubled last year to a record high of $28 billion.

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      Analysis Shows Major US Oil Companies Raked in $290 Billion in Profits Last Year

      "With $290 billion in profits, Big Oil made enough money in 2022 to end world hunger, pay off U.S. medical debt, and build 10 Disney Worlds, but instead used their record profits to shower $163 billion on shareholders."

      Brett Wilkins
      Mar 06, 2023

      An analysis published Monday by the watchdog Accountable.US revealed that the biggest oil companies operating in the United States raked in a collective $290 billion in profits last year while they "consistently prioritized shareholder returns over alleviating the pressure of high energy prices."

      According to the report—which analyzed 26 oil companies doing business in the U.S.—the $290 billion in collective 2022 Big Oil profits marked a 126% increase from the previous year. Fossil Fuel giants including BP, Shell, and Chevron more than doubled their net income in 2022, while smaller players like Murphy Oil And Southwestern Energy saw respective increases of 1,410% and 7,496%.

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      First-of-Its-Kind Report Details Hundreds of Millions Pumped Into Academia by Big Oil

      First-of-Its-Kind Report Details Hundreds of Millions Pumped Into Academia by Big Oil

      Universities have used millions of dollars to fund research promoting natural gas as a "clean" alternative to oil and coal and downplaying the negative impacts of fossil fuel emissions.

      Julia Conley
      Mar 01, 2023

      An analysis of more than two dozen U.S. universities' donor bases reveals the lengths fossil fuel companies have gone to in recent years to manipulate research into the climate emergency, pouring hundreds of millions of dollars into some of the country's schools as scientists struggle to convince policymakers that extractive industries must be reined in.

      The Fossil Free Research (FFR) campaign partnered with progressive think tank Data for Progress to conduct the first-of-its-kind study—released Wednesday—of donations from companies including BP, Chevron, and ExxonMobil, and found that between 2010 and 2020, fossil fuel giants donated more than $676 million to 27 universities that lead in the field of climate research.

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