Overview
- Oxfam Intermón published the analysis Monday to coincide with a global conference in Santa Marta, Colombia, on plans to move beyond fossil fuels.
- The projection covers Chevron, Shell, BP, ConocoPhillips, Exxon and TotalEnergies and points to an increase of nearly $37 million per day over 2025.
- Oxfam says the windfall deepens inequality and argues it could instead finance solar power for nearly 50 million people in Africa.
- The group highlights recent corporate shifts, including Exxon cutting planned low‑emissions spending and TotalEnergies rejecting a plan aligned with the 1.5°C goal.
- A Norstat poll in April across seven countries found about 68% support for higher taxes on big oil profits to help pay for renewables.