Making oil is more profitable than saving the planet. These numbers tell the story
Major oil companies are under pressure to invest more money in clean energy — but there's a big hurdle: It's still a hell of a lot more profitable to produce fossil fuels.
Oil companies have long been under pressure to invest more money into renewable energy to help fight climate change. Here's one simple reason why that's not happening: Right now, oil makes a lot more money.
Energy companies spend a lot of money every year. Picture a giant Scrooge McDuck-style mountain of cash, to the tune of $800 billion.
According to the International Energy Agency, the oil industry would need to spend 50% of that on clean energy by 2030 to be on track to meet global climate targets.
But right now, oil companies are spending just
