"Big Oil's Windfall Profits Threaten Energy Transition and Midterm Elections: As the US continues to grapple with the aftermath of the Iran war, the oil industry is reaping massive profits that could have far-reaching consequences for the country's energy landscape and the upcoming midterm elections. With billions of dollars pouring into the industry, experts warn that it could incentivize the expansion of oil and gas operations, undermining efforts to transition to cleaner energy sources. Furthermore, the influx of funds could bolster the sector's political influence, potentially shaping the electoral map in ways that benefit oil and gas interests ahead of the midterms. As the energy sector's lobbying power grows, the future of the US's climate goals and energy policy hangs in the balance."
Such a move could reshape the electoral map ahead of the midterms by carving up a majority-Black congressional districtSign up for the Breaking News US email to get newsletter alerts in your inboxThe billions in profits big oil is reaping due to the Iran war may stymie the energy transition, experts and advocates fear, incentivizing oil and gas expansion and boosting the sector’s funds for political lobbying.“Windfall profits from Trump’s war will allow big oil to build a wall of money around its Trump-era political victories,” said Lukas Shankar-Ross, a deputy director at green group Friends of the Earth. Continue reading...
