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      "LNG - Unfortunately not cool" is written in German ("LNG: Leider Nicht Geil!") on a sign

      The End of Gas Starts in Vienna

      A way out of the energy crisis and toward energy security won't be achieved, now nor in the long term, by investing in new "natural" gas infrastructure. There is no energy security in a world of climate chaos.

      Leonor Canadas
      Mar 18, 2023

      Near the end of this month, from March 27 to 28, the European Gas Conference (EGC) organized by Energy Council takes place in Vienna. This conference brings together Europe's main gas suppliers to discuss "the security of supply and the new role for LNG on the continent" and how to "diversify supply and decarbonize supply chains to future-proof gas' role in the energy mix."

      Total, Equinor, BP, BlackRock, and RWE are just some of the companies who will be represented in Vienna. These are also some of the companies who have registered record profits over the last year, mostly due to skyrocketing gas and oil prices. These are some of the companies whose conscious actions have pushed millions into energy poverty this winter, while pushing us all to climate collapse.

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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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      high gas prices

      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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