It would take less than 3% of Big Oil’s profits to slash methane emissions
A new report from the IEA says $100 billion from the entire oil and gas industry could cut methane leaks by 75%.
In 2022, oil and gas companies took in a record amount of money. Four companies alone—Chevron, ConocoPhillips, Exxon, and Shell—saw a reported $1 trillion in combined sales, a total larger than the GDP of Switzerland or Saudi Arabia. Meanwhile, methane—a greenhouse gas more potent than carbon dioxide that’s emitted during oil and gas production—also increased in 2022. The global energy industry released nearly 135 million tonnes into the atmosphere last year, according to the International Energy Agency.
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